Which ruling dynasty of ancient India was in power when the famous treatise on economics and statecraft, the 'Arthashastra', was authored?

The correct answer is Maurya.

Step-by-Step Explanation:

1. The Arthashastra is a premier ancient Indian treatise covering statecraft, economic policy, military strategy, and administration.
2. It was authored by Kautilya (also known as Chanakya or Vishnugupta), who served as the chief mentor and prime minister to Chandragupta Maurya, the founder of the Maurya Empire.
3. Chandragupta Maurya established the dynasty around 322 BCE, ushering in an era of centralized administration and political unity across the Indian subcontinent.
4. Consequently, the Maurya dynasty was the ruling power during the creation of the Arthashastra.