Consider the following statements with reference to Article 256 of the Constitution of India:

I. The executive power of a State shall be exercised so as to ensure compliance with laws made by Parliament.

II. The Union Government may issue binding directions to a State only when expressly authorised by a law of Parliament.

III. Persistent failure of a State to comply with directions issued under Article 256 may be considered while invoking Article 356.

Which of the statements given above is/are correct?