Option 1 suggests that only statements 1 and 2 are correct. Statement 1 is indeed correct as "bud chip settlings" in nurseries can lead to substantial savings in seed material when transplanted to the main field. However, statement 2 is incorrect because the germination percentage is not necessarily better with single-budded setts as compared to setts with multiple buds when directly planted.

Option 2 suggests that only statement 3 is correct, but this statement is not necessarily true. The survival of setts in bad weather conditions may not necessarily depend on whether they are single-budded or have multiple buds.

Option 3 suggests that statements 1 and 4 are correct, which is indeed the case. Besides substantial saving in seed material with `bud chip settlings` (Statement 1), sugarcane can indeed be cultivated using settlings prepared from tissue culture (Statement 4).

Option 4 suggests that statements 2,3, and 4 are correct, but as previously explained, statements 2 and 3 are not necessarily true. Hence, this option is incorrect. Therefore, the correct answer is option 3, "1 and 4".