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The correct answer is option 1, which states that statements 1, 2, and 3 are correct.
Statement 1: Only the House of the People is subject to dissolution. This means that only the Lok Sabha, which is the lower house of the Parliament, can be dissolved. The Rajya Sabha, which is the upper house, is not subject to dissolution.
Statement 2: The powers of dissolution and prorogation are exercised by the President on the advice of the Council of Ministers. This means that the President acts on the advice of the Council of Ministers when it comes to deciding to dissolve the House or prorogue it, which means to end a session.
Statement 3: The power to adjourn the daily sittings of the House of the People and the Council of States belongs to the Speaker and the Chairman respectively. This means that the Speaker of the Lok Sabha has the authority to adjourn the daily sittings of the Lok Sabha, while the Chairman of the Rajya Sabha has the power to adjourn the daily sittings of the Rajya Sabha.
Statement 4: The statement that the Parliament cannot be dissolved as it is a permanent chamber is incorrect. The Parliament can be dissolved, but only the House of the People