With reference to 'Ayushman Bharat Yojana' which of the following statement(s) is/are correct?

1. This Yojana provides free health insurance of Rs. five lakh per person.
2. The expenses incurred in this Scheme (Yojana) is shared between the Centre and State in 60: 40 ratio.

Select the correct answer from the codes given below.
Codes:

A) 1 only

B) 2 only

C) Both 1 and 2

D) Neither 1 nor 2

This MCQ is part of the UP PSC Previous Year Questions (PYQs) series, focusing on UPPSC Prelims 2020 (GS Paper I)