Correct Option: D

Lord Cornwallis concluded the Permanent Settlement Act of 1793. Permanent Settlement was a grand contract between the East India Company and the Landholders of Bengal (Zamindars and independent Talukdars of all designations). Under this act, the landholders and Zamindars were admitted as the absolute owners of landed property to the colonial state system. Not only them, the Zamindars and landholders were allowed to hold their proprietary right at a rate that never changed. Under this contract of Permanent Settlement, the Government could not enhance the revenue demands on Zamindars.