Explanation:

Article 87 of the constitution provides two instances when the President specially addresses both Houses of Parliament. The President of India addresses both the Rajya Sabha and the Lok Sabha at the beginning of the first Session after each general election when the reconstituted lower house meets for the first time. The President also addresses both the houses at beginning of the first session of each year.? However, the President’s address is prepared by the Prime Minster and approved by the Cabinet. Hence option 4th is correct.