Consider the following responsibilities of the Finance Commission in India:

1. Distribution between Union and States of net proceeds of taxes.

2. Principles which should govern grants-in-aid of the revenue of States out of Consolidated Fund of India.

3. Measures needed to augment Consolidated Fund of State to supplement resources of Panchayats and Urban Local Bodies (ULBs).

4. Any other matter referred to the Commission by the President.

How many of the above are responsibilities entrusted to the Finance Commission?