What is the name of India's own launching vehicle?

Polar Satellite Launch Vehicle

The correct answer is Option 2: Polar Satellite Launch Vehicle

On the basis of configuration and purposes, satellite system in India can be grouped into two: Indian National Satellite System (INSAT) and Indian Remote Sensing Satellite System (IRS). The INSAT, which was established in 1983,is a multi-purpose satellite system for telecommunication, meteorological observation and for various other data and programmes. The IRS satellite system became operational with the launching of IRS-IA in March 1988 from Vaikanour in Russia. India has also developed her own Launching Vehicle PSLV (Polar Satellite Launch Vehicle). These satellites collect data in several spectral bands and transmit them to the ground stations for various uses. The National Remote Sensing Centre (NRSC) at Hyderabad provides facilities for acquisition of data and its processing. These are very useful in the management of natural resources.