1. India in the eighteenth century had an ______ economy. 2. Warren Hastings introduced the_____ system of revenue collection. 3. The permanent settlement of Bengal was instituted by ______.
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1) India was a leading manufacturing country in the world in the early 18th century. It had 22.6 percent share of the world's GDP, which came down to around 16 percent by 1820, closer to its share of world population.
2) Izaredari system was introduced in 1773 by Warren Hastings in Bengal whereby he assumed that all land belongs to State. This was the first land tenure system implemented in India by British. Under this system, right of collecting revenue of a particular area was auctioned to the highest bidder.
3) In 1793, the Permanent Settlement of Revenue in Bengal was introduced by Lord Cornwallis. Permanent settlement was an agreement between the landlords(zamindars) and the East India Company.
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