Statement 1: Stars twinkle but planets do not.
Statement 2: Stars have their own light but a planet does not.
Both the statements are true and statement 2 is not the correct explanation of statement 1.
Stars twinkle because they’re so far away from Earth that, even through large telescopes, they appear only as pinpoints. As star’s light pierces our atmosphere, each single stream of starlight is refracted – causes to change direction, slightly – by the various temperature and density layers in Earth’s atmosphere.
Planets reflect the light which falls onto them from the sun. Planets are not point sources of light and that is why they do not appear to twinkle.