The fundamental object of Panchayati Raj system is to ensure which among the following? 1. People's participation in development 2. Political accountability 3. Democratic decentralization 4. Financial mobilization Select the correct answer using the code given below.

The Panchayati Raj system was introduced primarily to institutionalize local self-governance and empower people at the grassroots level. Its fundamental objects are: 1. People's participation in development: By involving local communities in planning and implementing development programs, Panchayati Raj ensures bottom-up participation. This statement is correct. 3. Democratic decentralization: It aims to decentralize power from the state government to local elected bodies, enabling decision-making closer to the people. This statement is correct. While political accountability (2) and financial mobilization (4) are important aspects and consequences of a well-functioning Panchayati Raj, they are not the primary, fundamental objectives in the same way as people's participation and democratic decentralization are. The core idea is to bring governance closer to the people and allow them a direct say in their local affairs and development.