Question
List the main features of Permanent Settlement. How did the production of opium, indigo and sugar shot up the profit margins of the East India Company?
Answer
The main features of permanent settlement are as follows:
- It was introduced in 1793 in Bengal.
- It was introduced by Lord Cornwallis.
- Under the system, zamindar said to pay 89% of the total revenue.
- This system gave birth to one new class of landlord called zamindars,
- Under the system, the position of cultivator become miserable.
The British introduced commercial agriculture in India to gain maximum profit. The Britishers wanted to smuggle and sell opium in China so that they could earn huge profit. Similarly indigo called neel in India was in great demand in textile Industries of Britain. The demand of sugar in West extracted many Europeans to set up sugar plantation in India. In this way the production of opium, Indigo and sugar shot up the profit margins of the East India Company.