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Option 1 states that members of the Rajya Sabha are not associated with the Committees on Public Accounts and Public Undertakings. This statement is incorrect. Members of both the Lok Sabha and the Rajya Sabha are associated with these committees. The Public Accounts Committee examines the accounts and financial transactions of the government, while the Committee on Public Undertakings examines the reports of disinvestment and privatization of public sector enterprises.
Option 2 states that members of the Committee on Estimates are drawn from both the Lok Sabha and the Rajya Sabha. This statement is also incorrect. Members of the Rajya Sabha are not associated with the Committee on Estimates. This committee examines the estimates of expenditure submitted by the government and ensures their effective implementation.
Therefore, since both statements are incorrect, option 4 is the correct answer that neither statement 1 nor statement 2 is correct regarding the Parliamentary Committees.