The Indian Parliament consists of two houses, namely the Rajya Sabha and the Lok Sabha. Therefore, option 1 is incorrect as it only mentions the two houses without including any other component. Option 2 is also incorrect as it mentions the addition of the Prime Minister, which is not a part of the Indian Parliament but rather the executive branch. Option 4 is also incorrect as it mentions the Vice-President of India, who is not a part of the Parliament but rather the head of the Rajya Sabha. The correct answer is option 3, as it mentions the President of India, who is the head of the Parliament, along with the Rajya Sabha and the Lok Sabha.