Charter Act of 1853 and Government of India Act 1858 — UPSC...

Consider the following statements:

1. The Charter Act of 1853 abolished the East India Company’s monopoly of Indian trade.
2. Under the Government of India Act, 1858, the British Parliament abolished the East India Company altogether and undertook the responsibility of ruling India directly.

Which of the statements given above is/are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Explanation

• Statement 1 is incorrect: The Company’s commercial monopoly had already been abolished before 1853. The Charter Act of 1833 terminated its trading activities and ended its monopoly over commerce.
• Statement 2 is correct: The Government of India Act, 1858, formally ended the rule of the East India Company and transferred its territories, revenues, and administrative powers to the British Crown.

Answer: (b) 2 only