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Consider the following statements with respect to the 73rd Constitutional Amendment:

1. It envisages the Gram Sabha as the foundation of the Panchayati Raj System.

2. It provides that Panchayat bodies will have a duration of five years.

3. It stipulates that the Chairperson of a Panchayat shall be elected by and from amongst the elected members thereof.

4. It has reserved 33 per cent of the seats to Other Backward Classes in Panchayati Raj Institutions.

Which of the statements given above are correct?

A)  1, 2, 3 and 4    

B)  1, 2 and 3

C)  2, 3 and 4                    

D)  1 and 2