The correct answer is option 1, which states that the Estimate Committee consists of 30 members from Lok Sabha. The Estimate Committee is a parliamentary committee in India that is responsible for examining the estimates of expenditure proposed by the government. It plays a crucial role in the parliamentary budgetary process. The committee is formed every year, and its members are elected from the Lok Sabha, which is the lower house of the Parliament of India. The committee is composed of members from different political parties, and its main objective is to scrutinize the government`s estimates in order to ensure transparency and accountability in public spending.