The correct answer is ​both Houses of Parliament assembled together.

• The President of India addresses both houses of Parliament under Article 87 of the Indian Constitution.

• Constitutional Provision ​Article 87:
  • ​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 the beginning of the first session of each year.

• Speech of President under Article 87 
  • The President’s speech highlights the government’s policy priorities and plans for the upcoming year.
  • The address provides a broad framework of the government’s agenda and direction.
• Amendment in Article 87 
  • Article 87 was amended the first time in 1951.
  • In clause (1), for the words "every session", the words "the first session after each general election to the House of the People and at the commencement of the first session of each year" is substituted.
  • In clause (2), the words "and for the precedence of such discussion over other business of the House" is omitted.