Raipur despite being _______ between two rivers, the Krishna and the Tungabhadra, it is a dust bowl in May first week.

’Surrounded’ should be followed by ’By’ or ’with’, hence it is an incorrect option. Also, option 4 is grammatically incorrect and option 3 doesn’t make a meaningful sentence. So, option 2 is the only option which makes the sentence both meaningfully and grammatically correct. Hence, option 2 is the most suitable answer choice.