Statement I is incorrect. The President's decision regarding the disqualification of MPs is not based on the opinion of the Council of Ministers. Instead, the President must act according to the opinion of the Election Commission of India, as per Article 103 of the Indian Constitution. Statement II is correct. The original text of the Indian Constitution does not mention or define "political party." Political parties are considered extra-constitutional entities, and their role is recognized through laws like the anti-defection law, but they are not explicitly mentioned in the Constitution itself.