Indian Polity · Polity

With reference to the Seventh Schedule of the Constitution of India, consider the following statements: I. It derives its operative force from Article 246, which distributes legislative subjects between Parliament and the State Legislatures. II. Under the Concurrent List, both Parliament and the State Legislatures can legislate; however, in case of inconsistency, the Union law generally prevails. III. The 42nd Constitutional Amendment Act, 1976 shifted subjects such as Education, Forests, Weights and Measures, Protection of Wild Animals and Birds, and Administration of Justice from the State List to the Concurrent List. IV. Residuary powers in India belong to the State Legislatures unless Parliament specifically assumes them by law. Which of the statements given above are correct?