With reference to the Indian Parliament, consider the following statements:
1. A bill pending in the Lok Sabha lapses on its dissolution.
2. A bill passed by the Lok Sabha and pending in the Rajya Sabha lapses on the dissolution of the Lok Sabha.
3. A bill in regard to which the President of India notified his/her intention to summon the Houses to a joint sitting lapses on the dissolution of the Lok Sabha.
Which of the statements given above is/are correct?

Correct option is B

Statement 1 is correct.

When the Lok Sabha is dissolved, all bills pending in the Lok Sabha lapse. This includes both government and private members' bills. Once the Lok Sabha is dissolved, any bill still under consideration in the house is considered lapsed and must be reintroduced in the next session if necessary.

Statement 2 is correct.

A bill that has been passed by the Lok Sabha but is still pending in the Rajya Sabha at the time of Lok Sabha’s dissolution also lapses. The legislative process must start afresh in the next Lok Sabha session, even though the Rajya Sabha is a continuing body.

Statement 3 is incorrect.

A bill for which the President has notified a joint sitting does not lapse on the dissolution of the Lok Sabha. Once the President has issued such a notification, the bill can still be passed in the joint sitting of both Houses, even after the dissolution of the Lok Sabha.