After the implementation of the Regulating Act of 1773, the British government made significant changes to its administration in India. One of the notable changes was the appointment of a Governor General to oversee and regulate the East India Company`s affairs.

Warren Hastings, a British official, was the individual who was elevated to the position of Governor General following the Regulating Act of 1773. As Governor General, Hastings had significant powers and responsibilities, including the authority to make decisions on behalf of the East India Company.

Option 2, Lord North, is incorrect as he was a British Prime Minister during the American War of Independence and not directly related to the Governor General position in India.

Option 3, Mountstuart Elphinstone, is incorrect as he was a British colonial administrator who served in India during the early 19th century, much after the Regulating Act of 1773.

Option 4, Philip Francis, is incorrect as he was a British politician and a critic of Warren Hastings, rather than being elevated to the position of Governor General himself.

Overall, the correct answer is option 1, Warren Hastings, as he was the British official who became the Governor General after the implementation of the Regulating Act of 1773.