Statement 1 is correct: The date of election of the Deputy Speaker is fixed by the Speaker. On the other hand date of election of the Speaker is fixed by the President.

Statement 2 is incorrect: There is no mandatory provision that the election of a candidate, as Deputy Speaker of Lok Sabha, shall be from either the principal opposition party or the ruling party. It is only by convention that the position of Deputy Speaker is offered to the opposition party in India.

Statement 3 is correct: In case of the absence of the Speaker, the Deputy Speaker presides over the sessions of the Lok Sabha and conducts the business in the house. The Deputy Speaker has the same power as the Speaker when presiding over the sitting of the House.

Statement 4 is incorrect: The Deputy Speaker is also elected by the Lok Sabha from amongst its members right after the election of the Speaker has taken place. There is no provision and or established practice of moving the motion for his election by the speaker and it is seconded by the prime minister.