With reference to Deputy Speaker of Lok Sabha, consider the following statements:

1. As per the Rules of Procedure and Conduct of Business in Lok Sabha, the election of Deputy Speaker shall be held on such date as the Speaker may fix.
2. There is a mandatory provision that the election of a candidate as Deputy Speaker of Lok Sabha shall be from either the principal opposition party or the ruling party.
3. The Deputy Speaker has the same power as of the Speaker when presiding over the sitting of the House and no appeal lies against his rulings.
4. The well established parliamentary practice regarding the appointment of Deputy Speaker is that the motion is moved by the Speaker and duly seconded by the Prime Minister. Which of the statements given above are correct?

Let's analyze each statement regarding the Deputy Speaker of the Lok Sabha:

Statement 1: The election of the Deputy Speaker is indeed held on a date fixed by the Speaker according to the Rules of Procedure and Conduct of Business in Lok Sabha. Statement 1 is correct.

Statement 2: There is no mandatory provision requiring the Deputy Speaker to be elected from either the principal opposition party or the ruling party. This is a convention, but not a legal requirement. Statement 2 is incorrect.

Statement 3: The Deputy Speaker possesses the same powers as the Speaker when presiding over the House, and their rulings are not subject to appeal. Statement 3 is correct.

Statement 4: Article 93 of the Constitution dictates that the House shall choose two members as Speaker and Deputy Speaker. The motion for the Deputy Speaker's election is not moved by the Speaker and seconded by the Prime Minister as a standard parliamentary practice. Statement 4 is incorrect.

Hence, only statements 1 and 3 are correct.