Consider the following statements about ‘the Charter Act of 1813’:
- It ended the trade monopoly of the East India Company in India except for trade in tea and trade with China.
- It asserted the sovereignty of the British Crown over the Indian territories held by the Company.
- The revenues of India were now controlled by the British Parliament.
Which of the statements given above are correct?
- 1 and 2 only
- 2 and 3 only
- 1 and 3 only
- 1, 2 and 3
Explanation
Statement 1 is correct
- The Charter Act of 1813 ended the company’s trade monopoly in India, and trade with India was thrown open to all British subjects. Trade in tea and opium and trade with China were still exclusive to the Company.
Statement 2 is correct, and statement 3 is incorrect
- It renewed the Company’s Charter for 20 years, but it asserted the sovereignty of the British Crown over the Indian territories held by the Company. The company was allowed to have territorial possessions for another 20 years. It directed that separate accounts be maintained for the Company’s territorial and commercial revenues.
