Which act ended the "Trade Monopoly" of the East India Company?
Q1 FREE PREVIEW
Which act ended the "Trade Monopoly" of the East India Company?
✓ Correct answer: d) The Charter Act of 1813
ExplanationThe Regulating Act of 1773 officially, the East India Company Act 1772 was an Act of the Parliament of Great Britain that proposed to refurbish the management of the East India Company's rule in India.But the Act did not prove to be a long-term solution to concerns over the company's affairs.So Pitt's India Act was therefore subsequently passed in 1784 as a more radical reform.The East India Company's monopoly over trade with China and tea with India was protected by the Charter Act of 1813, which also eliminated the company's monopoly on trade in India.The East India Company's business was given an additional 20 years of rule.The act gave permission to those who liked to visit India to expand their moral and religious beliefs.It monitored the company's commercial benefits and territorial revenues.It was hoped that it would keep its commercial and territorial accounts independent.The Charter Act of 1833 also called the Saint Helena Act of 1833 or the Government of India Act of 1833. This act was the first act in which natives of India were free to participate in a democratic system of government.Hence, the correct answer is “The Charter Act of 1813”.
Practice more SSC CGL History PYQs
See every question on Modern Indian History, or browse the full SSC CGL question bank.
See all questions on Modern Indian History →