Concept:The Bharat Ratna is India's highest civilian award, instituted in 1954, and it carries no monetary grant.
Explanation:Statement 1 claims the award was instituted in 1972. This is false because the Bharat Ratna was actually instituted in 1954.
The award is given for exceptional service in any field of human endeavour, without distinction of race, occupation, or sex.
Statement 2 says the award does not carry any monetary grant. This is correct; recipients receive only a medallion and a citation, and no cash allowance or reward.
Therefore, only statement 2 is correct, and statement 1 is incorrect.
Additional context: The Bharat Ratna was suspended from July 1977 to January 1980 and again from August 1992 to December 1995.
The Prime Minister recommends up to three nominees per year to the President.
Notable first recipients in 1954 include C. Rajagopalachari, Sarvepalli Radhakrishnan, and C.V. Raman.
Posthumous awards are also possible, for example, Lal Bahadur Shastri was awarded posthumously in 1966.
Answer:B. 2 only