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The correct answer is option 3 - "Statement-I is correct but Statement-II is incorrect".
To explain this further, Statement-I mentions that according to the United Nations World Water Development Report, 2022, India extracts more than a quarter of the world`s groundwater each year. This statement is indeed correct.
On the other hand, Statement-II suggests that to fulfill the drinking water and sanitation needs of around 18% of the world`s population in India, the country needs to extract more than a quarter of the world`s groundwater. However, this statement is incorrect because the extraction of groundwater is not only dependent on population but also on many other factors such as geographical conditions, rainfall, usage of water in agriculture, industrial usage, and many more. So, the relation drawn in Statement-II is oversimplified and hence incorrect.
Thus, while Statement-I is accurate, Statement-II is found to be incorrect. Hence, option 3 is the correct choice.