The constitution of India does not define what is basic structure. It has been defined by the Supreme Court in a series of cases. Hence, statement 1 is incorrect.
The constitution of India provides for the power of judicial review over legislative action vested in the High Courts under Article 226 and in the Supreme Court under Article 32 of the Constitution is an integral and essential feature of the Constitution. This is indeed to safeguard the citizen’s liberties and to preserve the ideals on which the Constitution is based. Hence, statement 2 is correct.