<Li> The President shall be entitled without payment of rent to the use of his official residences and shall be also entitled to such emoluments, allowances and privileges as may be determined by Parliament by law and until provision in that behalf is so made, such emoluments, allowances and privileges as are specified in the Second Schedule . </Li> <Li> The emoluments and allowances of the President shall not be diminished during his term of office . </Li> <P> Whenever the office becomes vacant, the new President is chosen by an electoral college consisting of the elected members of both houses of Parliament (M.P.s), the elected members of the State Legislative Assemblies (Vidhan Sabha) of all States and the elected members of the legislative assemblies (M.L.A.s) of two Union Territories (i.e., National Capital Territory (NCT) of Delhi and Union Territory of Puducherry). The election process of President is more extensive process than Prime Minister who is also elected indirectly (not elected by people directly) by the Lok Sabha members only . Whereas President being constitutional head with duties to protect, defend and preserve the constitution and rule of law in a constitutional democracy with constitutional supremacy, is elected in an extensive manner by the members of Lok Sabha, Rajya Sabha and state legislative assemblies in a secret ballot procedure . </P> <P> The nomination of a candidate for election to the office of the President must be subscribed by at least 50 electors as proposers and 50 electors as seconders . Each candidate has to make a security deposit of ₹ 15,000 (US $230) in the Reserve Bank of India . The security deposit is liable to be forfeited in case the candidate fails to secure one - sixth of the votes polled . </P>

Who takes part in the election of president of india
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