The electoral college that elects the President of India is formed by elected members of the Parliament and the State Legislative Assemblies. Let's understand this in detail.

- The President of India is elected through an indirect election process. The electoral college that elects the President consists of two components: the elected members of the Parliament and the elected members of the State Legislative Assemblies.

- The Parliament of India consists of two houses: the Lok Sabha (House of the People) and the Rajya Sabha (Council of States). The Lok Sabha consists of members elected directly by the people, while the Rajya Sabha members are elected by the members of the State Legislative Assemblies.

- The State Legislative Assemblies are the legislative bodies in each state of India. The members of these assemblies are elected by the people through state-level elections.

- The electoral college for the Presidential election is constituted by adding the total number of elected members of both houses of Parliament and the elected members of the State Legislative Assemblies. This ensures a balance of representation from both the central and state levels.

- The value of each vote in the electoral college is determined based on a formula set by the Presidential and Vice-Presidential Elections Act, 1952. This formula takes into account the population of each state and the number of elected members in the Parliament.

- The President of India is elected by a system of proportional representation. This means that the candidate who receives the majority of votes from the electoral college becomes the President.

In conclusion, the electoral college that elects the President of India is formed by elected members of the Parliament (both Lok Sabha and Rajya Sabha) and the State Legislative Assemblies. This system ensures a fair representation of both the central and state levels in the election process.