Consider the following statements: 1. The minimum age prescribed for any person to be a member of Panchayat is 25 years. 2. A Panchayat reconstituted after premature dissolution continues only for the remainder period. Which of the statements given above is/are correct?

Statement 2 is correct because, under Article 243E of the Constitution, a Panchayat reconstituted after premature dissolution does not enjoy a full five-year term but serves only for the remainder of the original period. Statement 1 is the most tempting error, but it is incorrect because the minimum age for contesting Panchayat elections is 21 years (Article 243F), unlike the 25-year requirement for State Legislative Assemblies. This question tests the specific constitutional provisions introduced by the 73rd Amendment Act regarding the duration and qualifications for Panchayati Raj Institutions.