The Regulating Act of 1773 mainly aimed to:
AEnd Company trade in India
BStrengthen parliamentary control over the Company
CIntroduce local self-government
DPromote Indian industries
Answer:
B. Strengthen parliamentary control over the Company
Read Explanation:
- Historical Context: The Regulating Act of 1773 was the first legislative measure taken by the British Parliament to regulate and control the affairs of the East India Company in India.
- Primary Objective: It was enacted to address the rampant corruption, administrative mismanagement, and financial distress within the Company, which had necessitated a loan from the British government.
- Governor-General of Bengal: The Act designated the Governor of Bengal as the Governor-General of Bengal, with Warren Hastings becoming the first person to hold this title.
- Executive Council: A four-member Executive Council was created to assist the Governor-General, with decisions made by majority rule.
- Centralization of Power: It centralized administration by subordinating the presidencies of Bombay and Madras to the presidency of Bengal.
- Judicial Reform: The Act provided for the establishment of a Supreme Court at Calcutta in 1774, consisting of one Chief Justice and three other judges (Sir Elijah Impey was the first Chief Justice).
- Company Oversight: It prohibited Company servants from engaging in private trade or accepting bribes, and mandated that the Court of Directors report on all revenue, civil, and military affairs in India to the British government.