In the early decades after the Permanent Settlement introduced by Britishers, zamindars regularly failed to pay the revenue demand and unpaid balances accumulated. In this regard which of the following statement (s) is/are Correct:
1 The initial demands of revenue fixed in anticipation that income of peasants will increase from land when prices rose and cultivation expanded as a result of this system of Permanent Settlement.
2 This demand was imposed in the 1790s, a time when the prices of agricultural produce were depressed, making it difficult for the ryots to pay their dues to the zamindar.
3 The revenue was variable but it  had to be paid punctually.
4 The Permanent Settlement initially limited the power of the zamindar to collect rent from the ryot and manage his zamindari.

1,2 and 4 only

Third option is wrong as the revenue was invariable, regardless of the harvest, and had to be paid punctually. In fact, according to the Sunset Law, if payment did not come in by sunset of the specified date, the zamindari was liable to be auctioned.