The second statement is correct as it aligns with Article 75(1A) of the Indian Constitution, which stipulates that the total number of ministers in the Union Government, including the Prime Minister, shall not exceed 15% of the total strength of the Lok Sabha. This provision ensures a manageable executive size in relation to the legislature, promoting effective governance.

On the other hand, the first statement is incorrect; the Constitution categorizes ministers primarily into Cabinet Ministers and Ministers of State, but it does not officially recognize the rank of "Deputy Minister," which is not mentioned in the constitutional framework. Thus, in the context of UPSC Prelims, understanding these classifications and their constitutional basis is crucial for evaluating governance structures.