Which of the following statements most accurately reflects the nature, criteria, and constitutional status of Special Category Status (SCS) granted to certain Indian states?

Special Category Status is explicitly mentioned in the Constitution under Article 371, granting states automatic financial benefits and exemption from all central taxes.

The criteria for Special Category Status include factors like hilly terrain, tribal population, border location, and economic backwardness, but the status is a political and administrative classification decided by the Union Government, not a constitutional right.

The Finance Commission mandates the grant of Special Category Status to states based on per capita income, and it is binding on the Union Government.

Once a state is granted Special Category Status, it remains permanent and cannot be revoked by the Union Government or Parliament.