Why did Regulating Act fail to regulate the Company’s power?
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The Regulating Act 1773 was an Act of the Parliament of Great Britain intended to overhaul the management of the East India Company's rule in India.[1] The Act did not prove to be a long-term solution to concerns over the Company's affairs; Pitt's India Act was therefore subsequently enacted in 1784 as a more radical reform.
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The Regulating Act fail to regulate the Company’s power since it did not show any benefit for the Indian population who were actually paying revenue to the company. The Governor-General had no veto power.
Explanation:
- The regulating Act of 1773 was passed by the British Parliament for controlling the territories of the East India Company largely in Bengal.
- This regulatory act was passed for managing the misgovernment by the British East India government that led to a situation of bankruptcy. It was due to this reason that the government had to intervene and manage the with the Company with the help of this Act.
- The regulating Act did not stop corruption among the company officials. The powers of the Supreme Court were not well-defined.
To know more about East India Company
What is east India company.
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