The correct answer is option 'C' - Swami Sahajanand Saraswati.

Swami Sahajanand Saraswati was elected as the first President of the All India Kisan Sabha at its founding session in Lucknow in 1936. The All India Kisan Sabha (AIKS) was a prominent peasant organization in pre-independence India, and it played a significant role in the peasant movement.

Swami Sahajanand Saraswati:
- Swami Sahajanand Saraswati was a prominent social and political leader from Bihar, India. He was born in 1889 in Ghazipur district of Uttar Pradesh.
- He was associated with the Arya Samaj and was influenced by Mahatma Gandhi's socio-political thoughts.
- Swami Sahajanand Saraswati worked tirelessly for the upliftment of the farmers and peasants in India. He fought against the exploitation of the peasants by the landlords and advocated for their rights.
- He played a crucial role in organizing the peasants and bringing them together under the banner of the All India Kisan Sabha.
- Swami Sahajanand Saraswati believed in the principles of non-violence and peaceful protests. He emphasized the importance of education and economic empowerment of the peasants.
- He also fought against untouchability and worked towards social reforms in society.
- Swami Sahajanand Saraswati's leadership and efforts contributed significantly to the growth and development of the All India Kisan Sabha, which became a strong voice for the rights of the farmers and peasants in India.
- Under his leadership, the AIKS organized various agitations and movements to address the issues faced by the farmers, such as high land rents, debt burden, and lack of access to credit and markets.

In conclusion, Swami Sahajanand Saraswati was elected as the first President of the All India Kisan Sabha at its founding session in Lucknow in 1936. He played a crucial role in mobilizing the farmers and fighting for their rights.