The correct answer is (a) and (b) Explanation & Key Takeaways: • The Constitution of India gives President extraordinary power to deal with three types of emergencies. • The emergency provisions are contained in Part XVIII of the Constitution of India, from Article 352 to 360. Hence statement 1 is correct. • Article 352 deals with National Emergency. Hence Statement 3 is incorrect. • If the President is satisfied that an emergency exists due to the war, external aggression, or armed rebellion then he may declare a National Emergency in a whole country or any part of it. • The National Emergency was first declared in 1962 during Chinese aggression on the northeast frontier agency, the second time it was declared in 1971 during India and Pakistan war and the third time it was declared in 1975 due to internal disturbances, so far National Emergency has been declared three times in India • Article 356 deals with State Emergency: Hence statement 1 is correct. • It is Imposed when the President is satisfied that the State Government is not functioning properly i.e there is a failure of Constitutional machinery in a State. • It is also known as President's Rule. • The State Emergency was first imposed in Punjab in 1951 for the maximum number of days i.e more than three thousand days. • It was imposed a maximum number of times in Uttar Pradesh i.e 10 times. • When Congress was in power at the Center State Emergency was implemented 84 times which is more than 73 per cent of all times. • Article 360 deals with Financial Emergency: • If the President is satisfied with the financial stability and credit of the country or if any part of the country is threatened then he may declare Financial Emergency. • The Financial Emergency must be approved by the Parliament within one month of its proclamation and it will remain until the President revokes it. • India never faced Financial Emergency to date.