The Permanent Settlement system was a revenue collection system introduced during the time of Governor-General ____in 1793.

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Detailed Solution

The Permanent Settlement system was a revenue collection system introduced during the time of Governor-General Lord Cornwallis introduced in 1793. As per the Settlement, the rajas and taluqdars were recognised as zamindars, who were asked to collect rent from the peasants. And then pay revenue to the Company. The revenue amount to be paid was fixed permanently and could not be increased ever in future. It was felt that this would ensure a regular flow of revenue into the Company’s treasuries and, at the same time, encourage the zamindars to invest in improving the land.

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