Question : Ryotwari system of revenue collection in India, introduced by the British, was based on the_______.
Option 1: Smith's theory of rent
Option 2: Ricardian theory of rent
Option 3: Malthusian theory of rent
Option 4: Marx's theory of rent
Correct Answer: Ricardian theory of rent
Solution : The correct answer is the Ricardian theory of rent .
Thomas Munro and Charles Reed introduced the Ryotwari System to India in the year 1820. During the Madras presidency, it was first introduced. Under this system, the peasants were the ones who paid the British Government's taxes. The scientific rent theory of Ricardo forms the foundation of this system. Rent is "that portion of the earth's produce paid to the landlord for the use of the original and indestructible powers of the soil," according to Ricardo. According to his theory, rent can only be found on land and is nothing more than the producer's surplus or differential gain.
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