Option 1 is incorrect because Rajya Sabha cannot be dissolved when a financial emergency is declared in the country. Option 2 is also incorrect because Rajya Sabha cannot be dissolved when emergency is declared due to failure of Constitutional machinery.
Therefore, the correct answer is option 4, None of these. Rajya Sabha cannot be dissolved under any circumstances. The Rajya Sabha is a permanent House of Parliament and is not subject to dissolution like the Lok Sabha. The members of Rajya Sabha are elected by the members of the Legislative Assembly of each state and by the members of the Legislative Council, in the case of states having a bicameral legislature. The Rajya Sabha plays an important role in the legislative process and acts as a check on the powers of the Lok Sabha.