The correct answer is option 2, G.V. Mavalankar. He was the first Speaker of the Lok Sabha, which is the lower house of the Indian Parliament.

Let`s analyze the other options to understand why they are not the correct answers:

Option 1, M. A. Ayyangar, was not the first Speaker of the Lok Sabha. He was a prominent political leader and served as the Deputy Speaker of the Constituent Assembly of India, but he did not hold the position of Speaker.

Option 3, Sardar Hukam Singh, also did not serve as the first Speaker of the Lok Sabha. He was a member of the Lok Sabha and served as the Speaker from 1962 to 1967.

Option 4, N. Sanjiva Reddy, was the sixth President of India, but he did not serve as the first Speaker of the Lok Sabha.

Therefore, the correct answer is option 2, G.V. Mavalankar, who held the position of the first Speaker of the Lok Sabha.