The correct answer to the question is option 2: The Union Finance Minister. The Goods and Services Tax (GST) Council is a constitutional body responsible for making decisions related to the GST in India. It consists of representatives from both the central government and the state governments.

While the Prime Minister of India holds a significant position in the government, the role of the Chairperson of the GST Council is specifically designated to the Union Finance Minister. The Finance Minister is responsible for chairing the council meetings, where discussions and decisions related to GST rates, exemptions, and other policy matters take place.

Option 3, the Speaker of the Lok Sabha, is incorrect as their role is mainly related to the functioning of the lower house of the parliament, and they do not hold any direct involvement in the GST Council.

Option 4, the President of India, is also incorrect as the President does not have an active role in the GST Council. The President`s role is largely ceremonial and symbolic, and they do not actively participate in policy-making bodies such as the GST Council.

Therefore, the correct answer is option 2: The Union Finance Minister.