Consider the following statements:1. The Charter Act, 1853 abolished the East India Company monopoly of Indian trade.2. Under the Government of India Act, 1858 the British Parliament abolished the rule of the East India Company and undertook the responsibility of ruling India directly. Which of the statement(s) given above is/are correct?
✓ Correct answer: b) 2 only
ExplanationStatement 1 is incorrect: Charter Act of 1853 did not abolish the East India Company’s monopoly of Indian trade.The company’s monopoly on trade with India was abolished earlier by the Charter Act of 1813, and the monopoly on trade with China ended with the Charter Act of 1833. The Charter Act of 1853 primarily focused on restructuring the administration of India and introduced a merit-based civil service.UPSC GS Paper-I PYQs 114Statement 2 is correct: Government of India Act, 1858 abolished the rule of the East India Company after the revolt of 1857 and transferred the administration of India directly to the British Crown.It marked the beginning of the British Raj.203
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