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Correct Option is 1,2 and 3

Financial Emergency (Article 360) 1.The reservation of all money bills or other financial bills for the consideration of the President after they are passed by the legislature of the state. 2.Reduction of salaries and allowances of all or any class of persons serving in the state 3. President may issue directions for the reduction of salaries and allowances of the judges of the Supreme Court and the high court. 4. A proclamation of Financial Emergency may be revoked by the president at any time by a subsequent proclamation. Such a proclamation does not require parliamentary approval. Thus during the operation of a financial emergency, the Centre acquires full control over the states in financial matters. Hence all the statements are correct.

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