Option 1 states that if the Prime Minister of India submits his resignation, it will only mean the resignation of the Prime Minister. This option is incorrect because the resignation of the Prime Minister affects the entire Council of Ministers, not just the Prime Minister himself.

Option 2 suggests that the resignation of the Prime Minister will result in the resignation of both the Prime Minister and the Cabinet Ministers. While it is true that the Cabinet Ministers serve under the Prime Minister, this option does not cover the entire Council of Ministers, which includes other ministers as well.

Option 4 states that the resignation of the Prime Minister will lead to the resignation of the Prime Minister, Cabinet Ministers, and the Speaker. However, the resignation of the Prime Minister does not necessarily affect the position of the Speaker.

The correct answer is option 3 because when the Prime Minister of India submits his resignation to the President, it means the resignation of the entire Council of Ministers, which includes the Prime Minister, Cabinet Ministers, and other ministers.