Explanation:

- Project Elephant was launched by the Government of India to protect elephants, their habitats, and corridors.

- Option 2: 1992 - This is the correct year. The project aimed to address issues of man-elephant conflict and ensure the long-term survival of elephant populations.

- Option 1: 1984 - Incorrect. This year is notable for other conservation efforts but not for Project Elephant.

- Option 3: 1988 - Incorrect. Although conservation efforts were ongoing, Project Elephant was not initiated this year.

- Option 4: 1997 - Incorrect. This is after the actual launch of Project Elephant.