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?

The correct answer is option 1,

Key Points

Pitt's India Act 1784 - 

• It established an authority in England to supervise the company's affairs. This is known as the Board of Control which has 6 members.
• The revenues of India were controlled by the British parliament through Pitts India Act 1784. Hence statement 3 is not correct.
• The Governor-General in the council has more powers over Bombay and Madras Governors in matters related to the War, Revenue and Diplomacy.
• In India, the strength of the executive council was reduced from four to three.

Charter Act of 1813 - 

• The monopoly of EIC was abolished in terms of trade with India.
• The company still enjoyed the monopoly in terms of tea and trade with china trade for 20 more years. Hence statement 1 is correct.
• This act provided a grant of one lakh rupees per annum for the promotion of education in India.
• This act gave power to local governments to impose and collect taxes.
• This act included a clause asserting the Crown's undoubted sovereignty over all of the Company's territories and required it to open up India to Christian missionaries. Hence statement 2 is correct.