Who among the following takes part in election of the President of India?

Elected Members of both the houses of Parliament and Legislative Assemblies of the states.

The correct answer is Option 1 - Elected Members of both the houses of Parliament and Legislative Assemblies of the states.

- Electoral College of the President of India: 

• The President is elected by an electoral college consisting of MPs of both Houses of Parliament and MLAs of the states of Delhi and Puducherry. 
• Nominated members of Rajya Sabha, Lok Sabha and the Assemblies, and members of state Legislative Councils, are not part of the electoral college.

- Following members do not participate in the election of the President-

1. The nominated members of both of Houses of Parliament, the nominated members of the state legislative assemblies,
2. The members (both elected and nominated) of the state legislative councils (in case of the bicameral legislature) and
3. The nominated members of the Legislative Assemblies of Delhi and Puducherry.