With reference to Centre-state relations during emergency, consider the following statements:
1. During National Emergency, President of India can cancel the transfer of finances from the Centre to the states.
2. During State Emergency, all the Money bills passed by the state legislature automatically gets reserved for the consideration of the President.
3. During Financial Emergency, Centre can give directions to the states to reduce the salaries of any class of persons serving in the state.
How many of the above given statements are correct?