Option 1 states that The Constitution of India defines its ‘basic structure’ in terms of federalism, secularism, fundamental rights, and democracy. However, the constitution does not explicitly define its basic structure. The basic structure doctrine was propounded by the Supreme Court in the case of Keshavananda Bharti vs. State of Kerala in 1973.

Option 2 claims that The Constitution of India provides for ‘judicial review’ to safeguard the liberties of the citizens and to preserve the ideals on which the constitution is based. This is correct. Judicial review is a power given to the judiciary by the Constitution. It helps to preserve the rule of law and to protect the rights of the citizens.

Option 3 says both statements are correct, but we already established that the first statement is not accurate.

Option 4 suggests that neither of the statements is correct, which we know is incorrect as statement 2 is accurate. So, the correct answer would indeed be option 2, affirming that the Constitution of India provides for judicial review.