What is/are the most likely advantages of implementing 'Goods and Services Tax (GST)' ? 1. It will replace multiple taxes collected by multiple authorities and will thus create a single market in India. 2. It will drastically reduce the 'Current Account Deficit' of India and will enable it to increase its foreign exchange reserves. 3. It will enormously increase the growth and size of economy of India and will enable it to overtake China in the near future. Select the correct answer using the code given below :

Statement 1 is correct because GST is a unified indirect tax that subsumed multiple central and state levies (like Excise Duty, VAT, and Service Tax), effectively eliminating the cascading effect of taxes and creating a "One Nation, One Market." Statements 2 and 3 are incorrect because they use extreme, speculative language ("drastically," "enormously," "overtake China") regarding macroeconomic outcomes that are influenced by numerous factors beyond tax reform. The core concept tested is the fundamental objective of GST—tax simplification and market integration—and the ability to identify hyperbolic distractors in policy analysis.