The Permanent Revenue Settlement of Bengal was introduced by Lord Cornwallis. It was implemented in 1793 during the British colonial period in India. The system aimed to provide a stable source of revenue for the British East India Company by fixing the land revenue demand on a permanent basis. Under this settlement, land revenue was fixed in perpetuity, and the zamindars (landlords) became intermediaries responsible for collecting revenue from the peasants and forwarding it to the British government. While it aimed to create stability, the Permanent Settlement had long-term negative consequences for the agrarian economy in Bengal.