Consider the following statements:

Madhyamika and Vijnanavada are two schools of Hinyana philosophy.

Madhyamika was propounded by Maitreyanatha and Vijnanavada by Nagarjuna.

Which of the statements given above is/are correct?

Question

The two chief schools of Mahayana philosophy were the Madhyamika (Doctrine of the Middle Position) and the Vijnanavada (Doctrine of Consciousness) or Yogachara (The Way of Yoga or Union).
The former school, the founder of which was Nagarjuna (first to second centuries AD), taught that the phenomenal world had only a qualified reality; that all beings labour under constant illusion of perceiving things where in fact there is only emptiness. This emptiness or void (sunyata) is all that truly exists, and hence the Madhyamikas were sometimes also called Sunyavadins (exponents of the doctrine of emptiness).
The Vijnanavada school, founded by Maitreyanatha, was an idealist school of thought. According to it the whole universe exists only in the mind of the perceiver.

GKToday Admin · Accepted Answer

Neither 1 nor 2

The two chief schools of Mahayana philosophy were the Madhyamika (Doctrine of the Middle Position) and the Vijnanavada (Doctrine of Consciousness) or Yogachara (The Way of Yoga or Union).
The former school, the founder of which was Nagarjuna (first to second centuries AD), taught that the phenomenal world had only a qualified reality; that all beings labour under constant illusion of perceiving things where in fact there is only emptiness. This emptiness or void (sunyata) is all that truly exists, and hence the Madhyamikas were sometimes also called Sunyavadins (exponents of the doctrine of emptiness).
The Vijnanavada school, founded by Maitreyanatha, was an idealist school of thought. According to it the whole universe exists only in the mind of the perceiver.

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