**Statement 1:** It has been constituted by an act of Parliament known as National Medical Commission Act, 2019.

**Statement 2:** NMC regulates medical education and medical professionals in India.

The correct answer is option C, both statements 1 and 2 are correct.

Explanation:
The National Medical Commission (NMC) is a regulatory body for medical education and medical professionals in India. It was constituted by an act of Parliament known as the National Medical Commission Act, 2019.

The NMC Act, 2019 replaced the Medical Council of India (MCI) as the governing body for medical education in India. The main objective of the NMC is to ensure quality medical education and transparent and accountable governance of medical institutions. It strives to establish and maintain high standards in medical education and practice.

The NMC has several key functions and responsibilities, including:
1. Regulation of medical education: The NMC regulates the standards of medical education, both at the undergraduate and postgraduate levels. It sets guidelines for the curriculum, infrastructure, faculty, and other aspects of medical education. It also grants recognition to medical institutions and monitors their compliance with the prescribed standards.

2. Conduct of common entrance examination: The NMC conducts a common entrance examination, known as the National Eligibility-cum-Entrance Test (NEET), for admission to undergraduate medical courses across India. NEET is the single entrance examination for all medical colleges in the country.

3. Registration and licensing of medical practitioners: The NMC is responsible for the registration and licensing of medical practitioners in India. It sets the standards for eligibility, qualification, and professional conduct of medical professionals. It also maintains a national register of all registered medical practitioners in the country.

4. Ethics and professional conduct: The NMC establishes a code of ethics and professional conduct for medical professionals. It ensures that medical practitioners adhere to ethical practices and maintain the highest standards of professionalism.

In conclusion, the National Medical Commission (NMC) has been constituted by an act of Parliament known as the National Medical Commission Act, 2019. It regulates medical education and medical professionals in India, with the aim of ensuring quality medical education and transparent governance in the field of healthcare.