The question asks about the percentage share the government holds in BPCL, a major Indian public sector oil and gas company. The options provide four possible ranges.

Option 1 suggests the government holding is More than 70%. This is not accurate as it overestimates the actual share the government holds in BPCL.

Option 2, the correct answer, states that the government holding is Between 60% and 70%. This range includes the accurate government share in BPCL, hence it is the correct option.

Option 3 suggests the government`s share is Between 50% and 60%. This is not correct because it underestimates the actual percentage of shares held by the government in BPCL.

Option 4 suggests the government`s share is Less than 50%. This is also incorrect because the government holds more than 50% of the shares, meaning that it maintains majority control over the company.

Please note, these specific percentages can change based on government decisions to buy or sell shares. So, it`s always good to check recent data for the most accurate information.