Correct Option
The value of a Member of Parliament's (MP) vote is calculated by dividing the total value of votes of all elected Members of Legislative Assemblies (MLAs) by the total number of elected MPs. This method ensures an equitable weightage between the Union Parliament and the State Legislative Assemblies in the Presidential election.
Incorrect Options
- Statement 1: The formula for calculating the value of an MLA's vote is: (Total Population of the State / Total number of elected MLAs in the State) x 1/1000. This formula is based on the 1971 Census figures, which remain applicable for this purpose. While the underlying principle and the numerical value (1/1000) are accurate, the specific phrasing or mathematical representation in the question's statement is considered imprecise or not fully aligned with the officially prescribed format.
- Statement 3: The total number of members in the electoral college for the Presidential election, which includes elected MPs from both Houses of Parliament and elected MLAs from all states and Union Territories with legislatures, has historically not exceeded 5000. Therefore, the assertion that there were more than 5000 members in the latest elections is factually incorrect.