 Statement 1 is incorrect: Governing Council of NITI Aayog consists of the Chief Ministers of all the States and Lt. Governors of Union Territories in India.
 Regional Councils will be created to address particular issues and possibilities affecting more than one state. These will be formed for a fixed term. It will be summoned by the Prime Minister.

Explanation:
 Federalism is a system of government in which the power is divided between a central authority and various constituent units of the country.
 Statement 1 is incorrect: The Constitution of India, being federal in structure, divides all powers (legislative, executive and financial) between the Centre and the states. However, there is no division of judicial power as the Constitution has established an integrated judicial system to enforce both the Central laws as well as state laws.
 Statement 2 is incorrect: The US Model of federalism is called as coming together as all the states have come together to form a federation. However, when a large country, like India, chooses to divide its authority between the member states and the central government, it is regarded as holding together federalism.
 In this case, power is shared among various social groups to accommodate a huge diversity. Here the central government is more powerful than the state government. Different constituents of the federation may have unequal powers.