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The Charter Act of 1813, provided for
1. opening of Indian trade for all British merchants.
2. allocation of Company resources for the spread of modern sciences in India.
3. ending of the East India Company's monopoly in the tea trade.
Select the correct answer using the code given below.
- a)1 only
- b)1 and 2 only
- c)2 and 3 only
- d)1, 2 and 3
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
The Charter Act of 1813, provided for1. opening of Indian trade for al...
- The Charter Act of 1813 was passed by the British Parliament due to increasing pressure from the British industrialists who wanted to take part in the profitable Indian trade.
- By the Charter Act of 1813, the trade monopoly of the Company in India was ended and trade with India was thrown open to all British subjects (private merchants). But trade in tea and trade with China was still exclusive to the Company. Hence option 1 is correct.
- A humble beginning for the spread of education was made in 1813 through the Charter Act. It incorporated the principle of encouraging learned Indians and promoting the knowledge of modern sciences in the country. The Act directed the Company to spend the sum of one lakh of rupees for the purpose. But even this petty amount was not made available by Company authorities till 1823. Hence option 2 is correct.
- The Charter Act of 1833 brought the Company’s monopoly of tea trade and trade with China to an end. At the same time, the debts of the Company were taken over by the Government of India, which was also to pay its shareholders a 101⁄2 percent dividend on their capital. Hence option 3 is not correct.
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The Charter Act of 1813, provided for1. opening of Indian trade for al...
The correct answer for the given question is option B, which states that the Charter Act of 1813 provided for the opening of Indian trade for all British merchants and the allocation of Company resources for the spread of modern sciences in India.
- **Opening of Indian trade for all British merchants**
The Charter Act of 1813 allowed all British merchants, not just those belonging to the East India Company, to trade with India. This move aimed to promote competition and open up the Indian market to a wider range of traders, potentially leading to increased economic activity and benefits for both India and Britain.
- **Allocation of Company resources for the spread of modern sciences in India**
Another significant provision of the Charter Act of 1813 was the allocation of Company resources for the spread of modern sciences in India. This marked a shift towards promoting education and technological advancements in the country, aiming to improve the overall development and progress of Indian society.
- **Ending of the East India Company's monopoly in the tea trade**
Although not explicitly mentioned in the Charter Act of 1813, the ending of the East India Company's monopoly in the tea trade is a significant development that occurred around the same time. This move allowed for more competition in the tea industry and potentially led to better quality and lower prices for consumers.
In summary, the Charter Act of 1813 had provisions that aimed to open up Indian trade, promote the spread of modern sciences, and end monopolies in certain sectors. These changes were part of broader efforts to reform and modernize the governance and economy of British India during that period.
- **Opening of Indian trade for all British merchants**
The Charter Act of 1813 allowed all British merchants, not just those belonging to the East India Company, to trade with India. This move aimed to promote competition and open up the Indian market to a wider range of traders, potentially leading to increased economic activity and benefits for both India and Britain.
- **Allocation of Company resources for the spread of modern sciences in India**
Another significant provision of the Charter Act of 1813 was the allocation of Company resources for the spread of modern sciences in India. This marked a shift towards promoting education and technological advancements in the country, aiming to improve the overall development and progress of Indian society.
- **Ending of the East India Company's monopoly in the tea trade**
Although not explicitly mentioned in the Charter Act of 1813, the ending of the East India Company's monopoly in the tea trade is a significant development that occurred around the same time. This move allowed for more competition in the tea industry and potentially led to better quality and lower prices for consumers.
In summary, the Charter Act of 1813 had provisions that aimed to open up Indian trade, promote the spread of modern sciences, and end monopolies in certain sectors. These changes were part of broader efforts to reform and modernize the governance and economy of British India during that period.
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The Charter Act of 1813, provided for1. opening of Indian trade for all British merchants.2. allocation of Company resources for the spread of modern sciences in India.3. ending of the East India Companys monopoly in the tea trade.Select the correct answer using the code given below.a)1 onlyb)1 and 2 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer?
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