The correct answer is option 1, which states that all three statements are correct.

Explanation:

1. The Pradhan Mantri Gram Sadak Yojana (PMGSY) is indeed part of the Government of India`s poverty reduction strategy. This scheme aims to provide rural connectivity by constructing all-weather roads in the rural areas, which in turn helps in reducing poverty by improving access to markets, healthcare, education, and other essential services for the rural population.

2. PMGSY is a centrally sponsored scheme, meaning that the funding for the scheme is shared between the central government and the state governments. The central government provides the majority of the funding (75%) while the remaining percentage is contributed by the state governments.

3. The primary objective of PMGSY is to provide connectivity in rural areas by constructing roads. This connectivity helps in bridging the rural-urban divide and promotes overall rural development.

Therefore, all three statements are correct, making option 1 the correct answer.