Option 1: Members of Panchayats are elected directly by the Gram Sabha.

This statement is correct. In the Panchayati Raj system, members of Panchayats are elected directly by the Gram Sabha, which is a body consisting of all adult members in a village eligible to vote.

Option 2: The elections to Panchayats are conducted by the State Election Commission.

This statement is correct. The elections to Panchayats are indeed conducted by the State Election Commission, which is a constitutional authority responsible for conducting free and fair elections at the state level.

Option 3: The Central Government may by law authorize a Panchayat to levy taxes.

This statement is incorrect. The Panchayats do have the power to levy taxes, but this authority is given to them by the respective State Governments and not the Central Government. The Central Government does not have the authority to directly authorize Panchayats to levy taxes.

Option 4: Every Panchayat continues for five years from the date of convening of its first meeting.

This statement is correct. A Panchayat`s term is generally five years, starting from the date of its first meeting. After the completion of five years, a fresh election is conducted