Which of the following best describes the socio-economic impact of the Agrahara land grant system on the local peasantry during the late Gupta and post-Gupta periods?

Options:

• A: It liberated the peasants from all forms of forced labor (Vishti) and reduced their overall tax burden.
• B: It encouraged the peasants to form powerful agricultural cooperatives that successfully negotiated tax rates with the central Gupta court.
• C: It led to the degradation of the peasants' status from independent cultivators to semi-serfs or tenants, as they were subjected to the arbitrary demands of the new religious landlords.
• D: It resulted in the complete urbanization of rural areas due to the massive influx of capital from the donees.

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