Consider the following statements about 'the Charter Act of 1813':<br/>1. It ended the trade monopoly of the East India Company in India except for trade in tea and trade with China.<br/>2. It asserted the sovereignty of the British Crown over the Indian territories held by the Company.<br/>3. The revenues of India were now controlled by the British Parliament.<br/><br/>Which of the statements given above are correct?

1. Correct. The Charter Act of 1813 ended the East India Company’s commercial monopoly in India, except for the tea trade and trade with China.

2. Correct. The Act explicitly asserted the sovereignty of the British Crown over the Company’s Indian possessions.

3. Incorrect. The Act did provide for greater parliamentary oversight, but it did not place the revenues of India under the direct control of the British Parliament in the sense stated here.

Hence, statements 1 and 2 only are correct.