Consider the following statements : 1. There are no parables in Upanishads. 2. Upanishads were composed earlier than the Puranas. Which of the statements given above is/are correct?

1. Statement 1 is incorrect. The Upanishads are philosophical and spiritual texts of Hinduism. While they are primarily known for their profound philosophical dialogues and discourses on ultimate reality (Brahman) and the self (Atman), they do contain parables and allegories. These stories or analogies are used to illustrate complex philosophical concepts in a more accessible way. For example, the Chandogya Upanishad contains the famous parable of Shvetaketu and the Banyan tree seed, illustrating the omnipresence of Atman. Thus, claiming there are 'no parables' is false.

2. Statement 2 is correct. The Upanishads are generally dated to the Late Vedic period, roughly between 800 BCE and 500 BCE. They represent the philosophical culmination of the Vedas. The Puranas, on the other hand, are a vast genre of Indian literature comprising myths, legends, and historical accounts, and they were primarily composed much later, generally from the 3rd to the 10th centuries CE, although some oral traditions might be older. The Puranas often draw upon and elaborate on themes found in earlier Vedic literature, including the Upanishads.

Therefore, only statement 2 is correct.