Concept:
This question focuses on modern Indian sculptors and painters arranged according to chronology.
Step 1:
Abanindranath Tagore belongs to the Bengal School and is the earliest artist among the list.
Step 2:
G. K. Mhatre belongs to the academic realist tradition of early modern Indian sculpture.
Step 3:
Ramkinkar Baij pioneered modern Indian sculpture during the early-mid 20th century.
Step 4:
Prodosh Dasgupta belongs to the later modernist phase.
Step 5:
K. G. Subramanyan belongs to the later contemporary generation.
Thus the correct chronology is:
\[
A \rightarrow C \rightarrow B \rightarrow D \rightarrow E
\]
Hence, the correct answer is:
\[
\boxed{\text{(2) A, C, B, D, E}}
\]