Both given statements are incorrect.

Statement 1 swaps the propulsion systems and flight speeds of ballistic and cruise missiles. A ballistic missile is usually rocket-powered and follows an elliptical trajectory, while cruise missiles are jet-propelled, with varying speeds depending on the type (turbojet, ramjet, etc.), typically maintaining at a low altitude in a predetermined course.

Statement 2 incorrectly attributes both types of missiles. The Agni-V is a solid-fueled intercontinental ballistic missile, and the BrahMos is a supersonic cruise missile.

Therefore, option 4, stating that neither 1 nor 2 are correct, is the right answer.