Correct Option
Statement 1 is correct. The Speaker of Lok Sabha possesses the power to adjourn the House sine die, which means terminating a sitting of the House without fixing a date for its next meeting. Prorogation, which signifies the formal termination of a session of the House, is a power vested in the President. Following prorogation, it is the President who summons the House for its subsequent session.
Statement 2 is correct. The Lok Sabha has a normal term of five years from the date appointed for its first meeting. Unless it is dissolved earlier by the President or its term is extended during a Proclamation of National Emergency (under Article 352), the House stands automatically dissolved by efflux of time at the end of this five-year period, even without a formal order of dissolution from the President.
Statement 3 is correct. According to Article 94 of the Constitution, the Speaker of the Lok Sabha does not vacate their office immediately upon the dissolution of the House. Instead, the Speaker continues in office until immediately before the first meeting of the Lok Sabha after the general elections, when a new Speaker is elected. This provision ensures continuity of the office.
Incorrect Options
Options 1, 2, and 3 are incorrect as they omit one or more of the correct statements. All three statements provided are factually accurate regarding the powers of the Speaker, the dissolution of the Lok Sabha, and the tenure of the Speaker.