Question

why did the english east india company need money? why did the system of giving the revenue collection rights to the highest bidder fail?

Answer 1

Answer:

The company needed money as: * to purchase goods and export them. * to run the administration. * to maintain an army and to fund numerous wars being fought both in India as well as abroad.

This system of revenue collection was failed because many zamindars were unable to pay the revenue to the company.

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