The correct option is "1 only" because, according to Article 77 of the Constitution of India, the President has the authority to make rules for the more convenient transaction of the business of the Government and for the allocation of responsibilities among Ministers. However, the second statement is incorrect; executive actions of the Government of India are typically taken in the name of the President, not the Prime Minister. This reflects the constitutional structure where the President serves as the formal head of the state, while the Prime Minister is the head of government and oversees the execution of policies. This distinction is crucial for understanding the hierarchical framework of governance in India, which is often emphasized in UPSC examinations.