The correct option is A Statement I is correct
1. Article 93 of the Constitution provides for the election of both the Speaker and the Deputy Speaker of the Lok Sabha. They are the Presiding Officers of the Lower House.
2. The maximum strength of the Lok Sabha is 552. Of these, 530 are reserved for the states, and a maximum of 20 seats are reserved for the union territories. In both cases, seats are reserved according to population. So, the National Capital Territory of Delhi has 7 seats. Jammu and Kashmir was officially made a union territory in 2019, and will be given 6 seats in the Lok Sabha. All the other union territories, including Ladakh, have one seat each.