Consider the following statements about the Charter Act of 1813: 1. It ended the trade monopoly of the East India Company in India except for trade in tea and trade with China. 2. It asserted the sovereignty of the British Crown over the Indian territories held by the Company. 3. The revenues of India were now controlled by the British Parliament. Which of the statements given above are correct?

Question

YESPYQ · Accepted Answer

Correct answer: 1 and 2 only. The Charter Act of 1813 renewed the East India Company’s charter for another 20 years, ending its monopoly on trade with India (except for trade in tea and opium with China). It also allocated funds for promoting education in India and acknowledged the need for social and economic reforms. It gave missionaries permission to travel to India was one of the key components of this law. Statement 1 is correct: The Charter Act 1813 ended the trade monopoly of the East India Company except for the trade in tea, opium, and with China. Statement 2 is correct: company’s territories in India came under the sovereignty of the British Government through this Act. Statement 3 is incorrect: The revenue of India was controlled by the British parliament through Pitt’s India Act 1784. 191

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