Why was the Board of Contraction established
during the Pitts India art?
Answers
Answer:The East India Company Act (EIC Act 1784), also known as Pitt's India Act, was an Act of the Parliament of Great Britain intended to address the shortcomings of the Regulating Act of 1773 by bringing the East India Company's rule in India under the control of the British Government. Named for British prime minister William Pitt the Younger, the act provided for the appointment of a Board of Control, and provided for a joint government of British India by the Company and the Crown with the government holding the ultimate authority. A six member board of control was set up for political activities and Court of directors for financial/commercial activities. As the Regulating Act had many defects, it was necessary to pass another Act to remove these defects.
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