With reference to the funds under Members of Parliament Local Area Development Scheme (MPLADS), which of the following statements are correct ? 1. MPLADS funds must be used to create durable assets like physical infrastructure for health, education, etc. 2. A specified portion of each MP's fund must benefit SC/ST populations. 3. MPLADS funds are sanctioned on yearly basis and the unused funds cannot be carried forward to the next year. 4. The district authority must inspect at least 10% of all works under implementation every year. Select the correct answer using the code given below :

The correct answer is Option 4 (1, 2 and 4 only). The explanation for each statement is as follows:

• Statement 1 is correct: The primary objective of MPLADS is to enable MPs to recommend works of developmental nature with emphasis on the creation of durable community assets (e.g., drinking water, education, public health, and roads) based on locally felt needs.
• Statement 2 is correct: Guidelines mandate that MPs must recommend works costing at least 15% of their annual entitlement for areas inhabited by Scheduled Caste populations and 7.5% for Scheduled Tribe populations.
• Statement 3 is incorrect: MPLADS funds are non-lapsable. Unused funds from a particular year are carried forward to the subsequent years within the MP's tenure.
• Statement 4 is correct: To ensure accountability, the guidelines stipulate that the District Authority must inspect at least 10% of the works under implementation every year.

Since statements 1, 2, and 4 are accurate, Option 4 is the right choice.