Ryotwari's system of revenue collection in India, introduced by the British, was based on the ___.
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. Ricardian theory of rent.
The Ryotwari system of revenue collection in India, introduced by the British, was based on the Ricardian theory of rent. This system was designed to fix land revenue directly with individual cultivators (ryots) rather than through intermediaries. It was influenced by David Ricardo's theory, which emphasized that rent is determined by the differences in land productivity and the cost of production. The system aimed for a more direct and efficient collection of revenue.