The 74th Amendment of the Constitution of India relates to Urban Local Bodies.

Option 1: Public Sector Undertakings. This option is not related to the 74th Amendment. Public Sector Undertakings refer to companies or corporations that are owned by the government.

Option 2: Compulsory Universal Education. This option is not related to the 74th Amendment. Compulsory Universal Education refers to the mandate of providing education to all children.

Option 3: Urban Local Bodies. This is the correct answer. The 74th Amendment of the Constitution of India deals with empowering local self-government in urban areas. It provides for the establishment of municipalities and corporations in urban areas and defines their powers, functions, and responsibilities.

Option 4: Rural Local Bodies. This option is not related to the 74th Amendment. Rural Local Bodies refer to the local self-government institutions in rural areas, which are covered under the 73rd Amendment of the Constitution.

In summary, the correct answer is option 3 - Urban Local Bodies, as the 74th Amendment of the Constitution of India is specifically related to empowering local self-government in urban areas.