Consider the following statements about 'the Charter Act of $1813$':

$1.$ It ended the trade monopoly of the East India Company in India except for trade in tea and trade with China.
$2.$ It asserted the sovereignty of the British Crown over the Indian territories held by the Company.
$3.$ The revenues of India were now controlled by the British Parliament.

Which of the statements given above are correct?

Economic Policy of British in India

1. India was not only the market for the Britishers but also the source of raw materials for them. After getting established as imperialistic forces in India, the Britishers started to exploit the Indian economy and this exploitation was done through various ways like land tax, salt tax, excise duty, opium tax, etc. The adverse economic policy of Britishers in India has been thus called the ‘Drain Theory of Wealth’. Given below are the major sources of Income for Britishers.

2. Land Revenue

(i) It was one of the major sources of Income for the Britishers and a number of land reforms were done by the Britishers to increase the revenue without taking much accountability like Permanent Settlement, Ryotwari Settlement, Mahalwari Settlement, etc.

(ii) It was highly condemned by Indian thinkers like Dadabhai Naoroji, R.C Dutt, M G Ranade, GB Joshi, etc.

3. Salt tax

Britishers imposed taxes even on the consumption of basic goods like salt. And it was highly condemned by the early Congress leaders like D B Naoroji, G.B. Joshi, G.E Wacha, etc.

4. Opium

(i) Britishers are accused to have made the Indians addicted to Opium and Tea and finally collecting taxes on their uses.

(ii) Keshav Chandra Sen was the first Indian leader to raise his voice against it, gradually D B Naoroji addressed the Opium tax as a disguised tax.