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 territorie

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Q: 54 (IAS/2019)
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_subject: 

History

question_exam: 

IAS

stats: 

0,71,96,71,14,41,41

keywords: 

{'charter act': [1, 0, 1, 1], 'sovereignty': [1, 1, 0, 0], 'indian territories': [0, 0, 0, 1], 'british crown': [3, 0, 0, 3], 'trade monopoly': [0, 0, 1, 1], 'british parliament': [1, 0, 1, 1], 'east india company': [4, 0, 2, 1], 'revenues': [2, 0, 5, 3]}

The Charter Act of 1813 established important modifications to the control and operations of the British East India Company in India. The options correspond to three statements that describe potential changes brought about by this Act.

Option 1 indicates that the Act ended the trade monopoly of the East India Company in India, barring the trade of tea and interaction with China. This is true as the Act indeed terminated the Company`s overall trade monopoly, allowing other British merchants to trade with India, apart from tea and China.

Option 2 suggests the Act asserted the sovereignty of the British Crown over the Indian territories held by the Company. This is also accurate, as the Act signified, to a certain extent, the assertion of the British government`s control over these territories.

Option 3 posits that the Act caused the revenues of India to be controlled by the British Parliament. This statement is incorrect; the revenues were managed by the Court of Directors of the East India Company, not the British Parliament.

Therefore, the correct answer is option 1: statements 1 and 2 are correct.