Consider the following statements:
(I) Finance Commission is a Constitutional Body.
(II) National Commission for Women is a Statutory Body.
Which option is correct?

Statement (I) is correct because the Finance Commission is established under Article 280 of the Constitution of India, making it a Constitutional Body. Statement (II) is also correct because the National Commission for Women was constituted under the National Commission for Women Act, 1990, making it a Statutory Body.