Consider the following statements regarding British economic policies in India during the colonial period: 1. The British introduced the Ryotwari system in parts of Southern and Western India, collecting revenue directly from peasants. 2. The Permanent Settlement created a class of landlords (zamindars) who acted as intermediaries and revenue collectors. 3. The 'Drain of Wealth' theory proposed by Dadabhai Naoroji explained how resources were systematically transferred from India to Britain. 4. The British government heavily invested in and protected indigenous Indian cottage industries during the 19th century. Which of the statements given above are correct?

Who described British economic policy as a system that 'acts very much like a sponge, drawing up all the good things from the banks of the Ganges, and squeezing them down on the banks of the Thames'?

Consider the following statements regarding the land revenue systems introduced by the British in India: 1. The Permanent Settlement of Bengal legally empowered and recognized zamindars as proprietors of the land. 2. The Ryotwari system allowed the state to collect revenue directly from the individual ryots (cultivators). 3. The Mahalwari system introduced a collective liability for land revenue payment by the entire village community (Mahal). 4. The British administration introduced widespread heavy state-sponsored industrialization across India during the 19th century. Which of the statements given above are correct?