With reference to the comparisons between the provisions for National Emergency and Financial Emergency in the Indian constitution, consider the following statements:
1. Declaration of both types of Emergencies must be approved by Parliament within 1 month.
2. Both need to be approved by a two-third majority of members in both the Houses of Parliament.
3. Both types of Emergencies can continue to operate for an indefinite period of time.
4. The President's revocation of both types of Emergencies requires Parliamentary approval by a simple Majority.
How many of the above given statements is/ are correct?