Hint:Vice-President is considered the second highest authority after the President.
In the Constitution of India, Article 63 mentions that there should be a Vice President of India.
In the absence of the President, the Vice-President acts as the President of the nation.
The Vice President of India is known as the ‘Bharat Ke Uparashtrapati’ in Hindi. He is also the ex officio Chairperson of the Rajya Sabha. Whenever a bill comes up in the Rajya Sabha he is responsible for deciding whether it is a financial bill or not and if it is a financial bill then he transfers the case to the Speaker of the Lok Sabha for making any decision.
Article 66 of the Constitution of India mentions the manner in which the Vice-President is elected. The election is done indirectly by the members of both the Houses of Parliament, i.e. Rajya Sabha and Lok Sabha in a secret ballot by the Election Commission. He is also required to deposit a security of rupees 15000 in the Reserve Bank of India. The election is to be conducted within 60 days from the expiry of the outgoing Vice-President. The disputes regarding the election are petitioned in the Supreme Court of India in which it is heard by five members of the court to decide upon the matter.
Therefore, the correct answer is Option B, i.e. the members of both the Houses of Parliament.
Note:The present Vice-President is Venkaiah Naidu from 11th August 2017. The Vice-President holds the office for a period of five years. Article 69 states about the Oath taken by the Vice- President.