Consider the following statements and choose the correct answer from the codes given below.
1. The Governor of a state shall constitute a Finance Commission every fifth year to review the financial position of the Panchayats under Article 243-I of the Constitution.
2. The superintendence, direction and control of all elections to the Panchayats are vested in a State Election Commission under Article 243 K of the Constitution.
Correct option is C. Both 1 and 2