Which of the following statements is/are correct about Lord Cornwallis?

1. Lord Cornwallis outlawed private trade by the Company’s employees.

2. He separated the commercial and administrative functions.

3. Lord Cornwallis granted legal ownership of land to the zamindars in Bengal.

Select the correct answer using the code given below:

• As the Governor-General from 1786 to 1793, Lord Cornwallis professionalized, bureaucratized and Europeanized the Company’s administration.

• He also outlawed private trade by the Company’s employees, separated the commercial and administrative functions, and enhanced the salaries of the Company’s servants.

• As revenue collection became the Company’s most essential administrative function, Lord Cornwallis granted legal ownership of land to the zamindars in Bengal.

• In return, the Zamindars had to pay the government fixed revenue by a certain particular date.

• This arrangement was to last for ever; hence, the title ‘Permanent Settlement’ was given.

• This system was also known as the Zamindari system.

• The immediate consequence was that as now the Zamindar became the owner of the land, the peasant was reduced to the status of a tenant on his own land.

• Moreover, now land became a negotiable property and the state was excluded from agricultural expansion and development, which came under the purview of the Zamindars.

• In Madras and Bombay, however, the ryotwari (peasant) settlement system was set in motion, in which the peasant cultivators had to pay annual taxes directly to the government.