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The correct statement with regard to the Inter-State Council is:
1. It was established under the provisions of the Constitution of India.
This means that the Inter-State Council is an official body that is recognized and formed by the Constitution of India. It has a legal basis and authority.
The incorrect statement is:
2. The Council is a recommendatory body.
The Inter-State Council is not just a recommendatory body. It is a deliberative forum for resolving disputes and promoting cooperation among states in India. It is meant to facilitate coordination and consultation between the states and the central government.
The second incorrect statement is:
3. There is a standing committee of the Council under the Chairmanship of the Prime Minister of India to process matters for consideration of the Council.
There is no standing committee of the Inter-State Council under the Chairmanship of the Prime Minister of India. The Council itself is chaired by the Prime Minister, but there is no separate standing committee for processing matters.
Therefore, the correct answer would be "Alert - correct answer should be option- 2: 2 only".