Official Answer Key & Detailed Solution
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Correct Answer: Option (A) — 1 and 2 only
Concept & Option Breakdown
Standard Reference VerifiedStatement 1 is correct: Queen Victoria's Proclamation announced that the British Crown had no intention to extend its territorial possessions or annex princely states. Statement 2 is correct: It transferred the governance of India directly from the British East India Company to the British Crown. Statement 3 is incorrect: The East India Company's rule was abolished altogether, and it had already lost all its trading privileges decades earlier (Charter Acts of 1813 and 1833). Therefore, regulating Company trade was not an objective.
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