Statement 1 and 3 are correct.
Maximization of profit was not a motive behind state intervention.

White Label ATMs – ATMs set up, owned and operated by non-bank entities are called “White Label ATMs” (WLAs).
Brown Label ATMs – ATMs where hardware and the lease of the ATM machine is owned by a service provider, but cash management and connectivity to banking networks is provided by a sponsor bank whose brand is used on the ATM.

Taxation is based on the idea of Fairness. Though fairness (i.e., the first criteria of a good tax system) is not always easy to define, economists suggested inclusion of two elements in the tax system to make it fair namely, horizontal equity and vertical equity.
Individuals in identical or similar situations paying identical or similar taxes is known as horizontal equity. When ‘better off people pay more taxes it is known as vertical equity.

Tax buoyancy is an indicator to measure efficiency and responsiveness of revenue mobilization in response to growth in the Gross domestic product or National income.
A tax is said to be buoyant if the tax revenues increase more than proportionately in response to a rise in national income or output.
A tax is buoyant when revenues increase by more than, say, 1 per cent for a 1 per cent increase in GDP.

1 and 2 are correct.
Inverted duty structure is a situation where import duty on finished goods is low compared to the import duty on raw materials that are used in the production of such finished goods. For example, suppose the tariff (import tax) on the import of tyres is 10% and the tariff on the imports of natural rubber which is used in the production of tyres is 20%; this is a case of inverted duty structure.
When the import duty on raw materials is high, it will be more difficult to produce the concerned good domestically at a competitive price. Several industries depend on imported raw materials and components. High tax on the raw materials compels them to raise price. The disadvantage of the inverted duty structure increases with the increased use of imported raw materials. An inverted duty structure discourages domestic value addition.
On the other hand, foreign finished goods will be coming at a reduced price because of low tax advantage. In conclusion, manufactured goods by the domestic industry becomes uncompetitive against imported finished goods. In such a case, even foreign investors would not be interested in setting up a firm for production in the country.
Statement 3 is wrong as it will be just the opposite.