Question

Consider the following statements:

1. The charter Act 1853 abolished East India Company’s Monopoly of India trade.

2. Under the government of India Act 1858, the British parliament abolished the East India company altogether and took responsibility of ruling India directly.

Which of the statements given is/are correct?

• A. 1 only
• B. 2 only
• C. Both and 2
• D. Neither 1 nor 2

Answer 1

The correct option is B

2 only

In charter Act of 1813 itself East India Lost its monopoly of Indian trade while in 1833 the Act ended activities of company as a commercial body which became a purely administrative body. In 1858, the power to administer India was transferred to British crown and the Act of 1858 abolished the company altogether. Therefore statement 1 is incorrect while statement 2 is correct.