The National Development Council is a body in India that consists of the Prime Minister, the Chief Ministers of all the states, and other members such as Union Ministers, experts, and officials. They meet periodically to discuss and coordinate development policies and programs.

Option 1: The Prime Minister is a member of the National Development Council. This is mentioned in the question itself, so it is a correct option.

Option 2: The Member of NITI Aayog is also a member of the National Development Council. NITI Aayog is a policy think tank in India, and one of its functions is to participate in the planning process at the national and state levels.

Option 3: The Chief Ministers of States are indeed members of the National Development Council. Their inclusion ensures that the unique needs and perspectives of each state are represented in the decision-making process.

Option 4: The President of India is not a member of the National Development Council. The President has a ceremonial role and is not involved in day-to-day policy matters.

In conclusion, option 4 is correct as the President is not a member of the National Development Council.