(i) VL-SRSAM stands for Vertical Launch Short Range Surface to Air Missile.

(ii) VL-SRSAM has been designed and developed jointly by three facilities of the Defence Research and Development Organisation for the deployment of Indian Naval warships.

(iii) The VL-SRSAM system has been designed to strike at the high-speed airborne targets at the range of 40km to 50km and at an altitude of around 15km.

• Akash is India’s first indigenously produced medium-range Surface to Air missile that can engage multiple targets from multiple directions. The all-weather missile can engage targets at a speed 2.5 times more than the speed of sound and can detect and destroy targets flying at low, medium, and high altitudes.
• The Akash missile system has been designed and developed as part of India’s 30-year-old integrated guided-missile development program (IGMDP) which also includes other missiles like Nag, Agni, Trishul, and Prithvi.

Agni-V is intercontinental ballistic missile, surface to surface, three stage developed by Defence Research and Development Organisation (DRDO). It is the part of the Integrated Guided Missile Development Program (IGMDP).

It is the most-advanced Agni missile in terms of navigation and guidance, warhead and engine and has a strike range of 5000 km.

Value Addition: India has also started working on Agni VI. It can be launched from Submarines as well as from land having strike range of 8000-10000 km.

• Agni-1 is an indigenously developed surface-to-surface, single-stage missile which was inducted into service in 2004. Hence, statement 1 is correct.
• The short-range nuclear capable ballistic missile Agni-1 has a strike range of over 700 km. Hence, statement 2 is incorrect. 
• The state-of-the-art missile is propelled by a solid rocket propellant system. 
• The sophisticated Agni-1 missile is equipped with a specialised navigation system that ensures it reaches the target with a high degree of precision.Hence, statement 3 is correct.