The correct answer is option 1. Article 368 of the Constitution of India deals with the powers of the Parliament of India to amend the Constitution. This provides the procedure and authority for making changes or amendments to the Constitution. The Parliament, consisting of the Rajya Sabha and the Lok Sabha, has the power to amend various provisions of the Constitution, subject to certain limitations and procedures.
Option 2, financial emergency, is not correct. Financial emergency is governed by Article 360 of the Constitution, which empowers the President of India to declare a financial emergency if he/she is satisfied that the financial stability or credit of India is threatened.
Option 3, reservation of seats for Scheduled Castes and Scheduled Tribes in the Lok Sabha, is not correct. The reservation of seats for Scheduled Castes and Scheduled Tribes is governed by Article 330 and Article 332 respectively.
Option 4, Official Language of the Union of India, is not correct. The official language of the Union of India is governed by Article 343, which states that Hindi in Devanagari script shall be the official language of the Union, with English continuing to be used for official purposes until a resolution is passed for the discontinuation of its use.