Detailed Explanation:

✅ Statement 1 – Correct: People's participation in development is a fundamental objective of the Panchayati Raj system, enabling grassroots involvement in local planning and development as envisaged in Article 40 and operationalized through the 73rd Constitutional Amendment Act, 1992.

❌ Statement 2 – Incorrect: While political accountability emerges as a consequence, it is not among the fundamental objectives; the primary aim is to create institutions for self-governance, not to establish accountability mechanisms per se.

✅ Statement 3 – Correct: Democratic decentralization is the core principle of Panchayati Raj, transferring power from centralized structures to local self-government institutions to ensure governance at the grassroots level.

❌ Statement 4 – Incorrect: Financial mobilization is an operational aspect and a means to achieve development goals, but not a fundamental object of the system; the focus is on democratic participation and decentralization.