The correct answer is option 3, which states that the basic features of the Constitution (73rd Amendment) Act include:

1. Provides for a three-tier structure of panchayats: The amendment introduces a three-tier structure of panchayats, which includes village, intermediary, and district levels. This aims to decentralize power and promote local self-governance.

2. Reservation of seats for Scheduled Castes, Scheduled Tribes, and women: The amendment mandates the reservation of seats for Scheduled Castes, Scheduled Tribes, and women in all tiers of panchayats. This provision ensures representation and empowerment of marginalized groups.

3. Election to panchayats under the supervision of the State Election Commissions: The amendment requires the elections to panchayats to be conducted under the supervision of the State Election Commissions. This ensures a fair and transparent electoral process.

4. Introduction of the 11th Schedule to the Constitution: The amendment adds the 11th Schedule to the Constitution. This schedule lists 29 functional areas of self-governance that are assigned to the panchayats, including agriculture, rural development, education, health, and social justice.

In summary, the basic features of the Constitution (73rd Amendment) Act