The statement is incorrect. The correct answer should be option 2 - No-remission of land revenue during periods of drought and other natural calamities.

The Peasants and Indian nationalists, led by the Congress, undertook a major struggle against various hardships and privations. One of these struggles was the non-remission of land revenue during periods of drought and other natural calamities.

Under this system, the peasants were expected to pay their land revenue regardless of the circumstances. This placed a heavy burden on them, especially during times of natural disasters when their crops were destroyed, and their income was severely affected. Despite their hardships, they were still expected to pay the land revenue, which often led to further impoverishment and debt.

By protesting against this unjust system, the peasants and nationalists aimed to bring attention to the need for remission of land revenue during times of calamities. They believed that the government should consider the economic difficulties faced by the peasants and provide relief in such situations.

The struggle against the non-remission of land revenue was a critical aspect of the broader movement for agrarian rights and social justice led by the Congress and the Indian nationalists.