The correct answer to the question is option 1, which states that the impeachment of the President of India can be initiated in either House of the Parliament. Let`s analyze the other options to understand why they are not correct.

Option 2 states that the impeachment can be initiated in a joint sitting of both Houses of the Parliament. However, this is not accurate because the impeachment process is initiated by a specific House of Parliament, not a joint sitting.

Option 3 suggests that the impeachment can be initiated in the Lok Sabha alone. This is not correct either because the impeachment process can be initiated in either House of Parliament, not just the Lok Sabha.

Option 4 claims that the impeachment can be initiated in the Rajya Sabha alone. This is also incorrect as the impeachment can be initiated in either House of Parliament, not just the Rajya Sabha.

Therefore, the correct answer is indeed option 1, as both the Lok Sabha and the Rajya Sabha have the power to initiate the impeachment process against the President of India.