Which of the following statements is correct with respect to the political parties in India?

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Step-by-step analysis:

1. Statement $1$: "A political party symbol is assigned by the President of India." — False. Party symbols are allotted and regulated by the Election Commission of India (ECI), not the President.

2. Statement $2$: "India has a multi-party system classified as national, state or regional level." — True. India has a multi-party system and parties are classified as national parties and state (or regional) parties; there are also registered (unrecognized) parties.

3. Statement $3$: "All parties are registered with the Supreme Court of India." — False. Political parties are registered with the Election Commission of India under the Representation of the People Act, not with the Supreme Court.

4. Statement $4$: "Status of party is accorded by the Parliament." — False. Recognition (status as national or state party) is accorded by the Election Commission of India based on laid-down criteria, not by Parliament.

Therefore only statement $2$ is correct.

FINAL_ANSWER: b

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