The correct answer is 2 only. In News - The Business Advisory Committee (BAC) of Parliament met to discuss the legislative business and other issues related to the ongoing Monsoon Session. Lok Sabha Speaker Om Birla presided over the meeting. Additional Information The Business Advisory Committee of Lok Sabha consists of 15 members including the Speaker who is the ex-officio Chairperson. Hence statement 1 is not correct. The members are nominated by the Speaker. In practice, a new Committee after being nominated by the Speaker is constituted and assumes office in the first week of June every year. The Committee generally meets at the beginning of each Session and thereafter as and when necessary. The function of the Committee is to recommend the time that should be allotted for the discussion of such government legislative and other business as the Speaker, in consultation with the Leader of the House, may direct to be referred to the Committee. The Committee, on its own initiative, may also recommend to the Government to bring forward particular subjects for discussion in the House and recommend allocation of time for such discussions. The decisions reached by the Committee are always unanimous in character and representative of the collective view of the House. The Business Advisory Committee was constituted for the first time on the 14th of July, 1952. Hence statement 2 is correct.