The correct answer is option 1: The Parliament. Money can be spent out of the Consolidated Fund of India only with the approval of the Parliament. The Consolidated Fund is the main account of the Indian government into which all revenue is received and from which all expenditure is made. It is controlled by the Parliament to ensure transparency and accountability in the government`s financial management. The Speaker of Lok Sabha (option 2), the Comptroller and Auditor General (option 3), and the President (option 4) do not have the authority to directly approve spending from the Consolidated Fund. They have important roles in the financial management and oversight of the government, but the ultimate authority lies with the Parliament in this matter.