The correct answer is option 'C', the Gupta period is known as the 'Golden Age' in Indian history. This period, which lasted from around 320 to 550 CE, marked a significant cultural and intellectual flourishing in India. Let's delve deeper into why the Gupta period is considered as the 'Golden Age' of Indian history.

1. Political Stability and Expansion:
- The Gupta Empire was one of the most powerful and prosperous dynasties in ancient India. Under the leadership of Chandragupta I and his successors, the empire experienced political stability and expanded its boundaries through military conquests.
- The Gupta rulers were known for their efficient administration and governance, which allowed for economic growth and social development.

2. Economic Prosperity:
- The Gupta period witnessed remarkable economic prosperity. Agriculture and trade flourished, contributing to the empire's wealth.
- The Gupta rulers encouraged trade and commerce, resulting in the establishment of trade routes with other regions, including Southeast Asia, the Mediterranean, and China.
- The empire was also known for its advanced agricultural practices, including the use of new tools and techniques, which led to increased agricultural production.

3. Cultural and Intellectual Advancements:
- The Gupta period is regarded as a golden age of Indian art, literature, and science. It witnessed significant advancements in various fields.
- Literature flourished during this period, with notable works produced in Sanskrit, such as Kalidasa's plays and poems. The famous epics Ramayana and Mahabharata were also written during this time.
- The Gupta period saw remarkable achievements in the field of science and mathematics. Mathematician Aryabhata made significant contributions to the study of astronomy and mathematics.
- The art and architecture of the Gupta period are characterized by their elegance and refinement. The famous Ajanta and Ellora caves, as well as the Gupta temples and sculptures, are remarkable examples of the artistic excellence of this era.

4. Religious Tolerance and Patronage:
- The Gupta rulers promoted religious tolerance and provided patronage to various religions, including Hinduism, Buddhism, and Jainism.
- They supported the construction of temples, monasteries, and stupas, which furthered the development of these religions.
- The Gupta rulers themselves were patrons of art, literature, and learning, encouraging scholars, poets, and artists to flourish.

In conclusion, the Gupta period is considered the 'Golden Age' of Indian history due to its political stability, economic prosperity, cultural and intellectual advancements, and religious tolerance. This period witnessed a remarkable flourishing of art, literature, science, and governance, leaving a lasting impact on Indian civilization.