The Cabinet Committee on Economic Affairs (CCEA) recently announced Minimum Support Prices (MSPs) for kharif crops for 2026–27. With reference to the MSP framework in India, consider the following statements:

1. The Commission for Agricultural Costs and Prices (CACP) is a statutory body under the Ministry of Agriculture that is legally empowered to fix MSPs.
2. The revised MSPs for kharif 2026–27 were announced to ensure approximately 50% returns over the cost of production for each crop.
3. Paddy (common variety) MSP for 2026–27 was increased by ₹72 per quintal to ₹2,441, while A-grade paddy MSP was set at ₹2,461 per quintal.

Which of the statements given above is/are correct?