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The correct answer is option 4: The President of India. In the Indian parliamentary system, the President is a part of the Parliament but is not a member of either house. The President is the head of state and performs certain constitutional functions related to legislation. The President is not an elected representative and is chosen by an Electoral College comprising of elected members of both houses of Parliament and state legislatures. However, the President does not actively participate in the day-to-day legislative activities and does not have voting rights in the Parliament. It is important to note that although the Prime Minister, Finance Minister, and Speaker of Lok Sabha are also part of the Parliament, they hold positions that are elected or appointed from within the members of either house.