REGULATING ACT OF 1773| EXPLANATION IN SHORT

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The Regulating Act of 1773 was a British law passed by the Parliament in response to the East India Company's escalating corruption and mismanagement in India. The Act marked a significant shift in the British government's control over the Company's activities in India.

The Regulating Act of 1773 established a governor-generalship for Bengal, which was created to oversee the Company's activities in India. The first governor-general was Warren Hastings, who was appointed in 1774. The Act also created a Supreme Court in Calcutta to deal with issues of civil and criminal law.

The Act gave the British government the power to intervene in the affairs of the East India Company and required the Company to submit detailed accounts of its revenues and expenses in India. It also banned the Company's employees from accepting gifts from Indian rulers and required them to take an oath of office.

However, the Regulating Act did not solve all of the problems in India. The governor-generalship of Bengal had limited powers, and there was still widespread corruption and mismanagement within the Company. The Act also did not address the issues of the Company's monopoly over Indian trade, which continued to harm Indian interests.

Overall, the Regulating Act of 1773 was a significant step in British government's involvement in India and marked the beginning of a period of increased regulation and control over the East India Company's activities in the region.

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Arsh Akhtar
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