Correct option is C
The correct answer is: (c) All the debts of the East India Company were taken over by the British Government of India
Explanation:
· The Pitt’s India Act (1784) was enacted to improve governance in India by bringing dual control— Company’s commercial functions were retained but political affairs were regulated by the British Government through the Board of Control.
· It did not include any provision regarding the takeover of debts of the East India Company by the British government.
· The Act separated commercial and political functions of the company for the first time.
Information Booster:
· The Board of Control had 6 members, including a cabinet minister.
· Governor-General was to be assisted by an executive council of three members.
· Strengthened central control through Bengal Presidency.
· Passed during the British Prime Ministership of William Pitt the Younger.
· Marked beginning of dual government in India (Company + Crown).
· It followed the Regulating Act of 1773 and paved way for future control by the British Crown.