The correct answer is option 2: 1951-52. The first general election in India based on adult suffrage was conducted in the years 1951-52. Adult suffrage means that all citizens above a certain age, usually 18 years old, have the right to vote.

Let`s analyze the other options to understand why they are not the correct answers:

Option 1: 1953-54. This is not the correct answer because the first general election in India on the basis of adult suffrage was held before this year.

Option 3: 1949-50. This is not the correct answer either. While elections were held during this time, they were not based on adult suffrage. The concept of adult suffrage was introduced later.

Option 4: 1947-48. This is also not the correct answer. The year 1947 is significant as it marks India`s independence, but the first general election based on adult suffrage was held after this period.

In conclusion, option 2: 1951-52 is the correct answer as it aligns with the first general election held in India on the basis of adult suffrage.