Which of the following statement (s) is/are correct?

Statement 1: Nehru, and many other leaders and thinkers of the newly independent India, sought an alternative to the extreme versions of capitalism and socialism.

Statement 2: Nehru, and many other leaders preferred an economic system which, in their view, combined the best features of capitalism without its drawbacks.

Only Statement 1 is correct.

Nehru, and many other leaders and thinkers of the newly independent India, sought an alternative to the extreme versions of capitalism and socialism. Basically sympathising with the socialist outlook, they found the answer in an economic system which, in their view, combined the best features of socialism without its drawbacks. In this view, India would be a socialist society with a strong public sector but also with private property and democracy