What was the Permanent Settlement of Revenue? State its two features.

In order to bring a fixed income, Lord Cornwallis fixed the land revenue of Bengal and Bihar on a permanent basis in 1793. This practice came to be known as the Permanent Settlement. Under it, the zamindar became the owners of the entire land in their zamindari.

Two features of this system of revenue are:

1. The right of ownership was made hereditary and transferable.
2. The Zamindar had to pay a fixed amount of revenue by a fixed date to the government every year.