Which of the following statements related to Bibek Debroy Committee recommendations are correct? 1. Private entry into running both freight and passenger trains.2. To progressively phase out the practice of a separate railway budget.3. To ensure increases in passenger fares.4. Establishment of an independent body to provide a level-playing field to private players.

Political institutions are the organizations in a government that create, enforce, and apply laws. They often mediate conflict, make (governmental) policy on the economy and social systems, and otherwise provide representation for the population.