Both the statements are correct.
Article 356 of the Constitution of India gives President of India the power to suspend state government and impose President’s rule on any state in the country “if he is satisfied that a situation has arisen in which the government of the state cannot be carried on in accordance with the provisions of the Constitution”.
The imposition of the President’s rule requires the sanction of both the houses of Parliament. If approved, it can go on for a period of six months. However, the imposition cannot be extended for more than three years, and needs to be brought before the two houses every six months for approval.
A proclamation of President’s Rule may be revoked by the President at any time by a subsequent proclamation. Such a proclamation does not require parliamentary approval.

The procedure for the amendment of the Constitution is laid down in Article 368:
1. An amendment of the Constitution can be initiated only by the introduction of a bill for the purpose in either House of Parliament and not in the state legislatures.
2. The bill can be introduced either by a minister or by a private member and does not require prior permission of the president.
3. The bill must be passed in each House by a special majority, that is, a majority (that is, more than 50 per cent) of the total membership of the House and a majority of two-thirds of the members of the House present and voting.
4. Each House must pass the bill separately. In case of a disagreement between the two Houses, there is no provision for holding a joint sitting of the two Houses for the purpose of deliberation and passage of the bill.

Speaker of the Lok Sabha is the chairman of the Business Advisory Committee, the Rules Committee and the General-Purpose Committee.

Protected Planet Report is released by United Nations Environment Programme (UNEP) and the International Union for the Conservation of Nature (IUCN). The report takes stock of measures taken to fulfil the aims of Aichi Target 11. Aichi Target 11 called for protecting 17% of Earth’s land and 10% of its marine environments by 2020.

Statement 1 is correct while statement 2 is incorrect.
In May 2016, the Reserve Bank of India (RBI) Act, 1934 was amended to provide a statutory basis for the implementation of the flexible inflation targeting framework. The amended RBI Act explicitly provides the legislative mandate to the Reserve Bank to operate the monetary policy framework of the country.
The amended RBI Act also provides for the inflation target to be set by the Government of India, in consultation with the Reserve Bank, once in every five years.