Final answer:
The Government of India Act of 1858 established the British monarchy in India. Queen Victoria became the Empress of India as the country was placed under direct rule from London following the Sepoy Rebellion.
Step-by-step explanation:
The Government of India Act of 1858 effectively established the British monarchy in India. This act came as a response to the Sepoy Rebellion (also known as the Indian Mutiny of 1857), leading to the dissolution of the British East India Company.
The British parliament took direct control, and India was subsequently referred to as the "British Raj," with Queen Victoria becoming the Empress of India. The change signified a shift in governance, with India now under direct rule from London. The objective was to ensure a more stable rule following the failed management by the East India Company, which had previously led to unrest and rebellion.
All these measures set the foundation for the later, more autonomous Indian governance brought into effect with the India Act of 1935. However, the Government of India Act of 1858 itself did not create a new constitution, legislative council, or a new currency system for India. Therefore, the correct answer to the question "What did the Government of India Act of 1858 establish?" would be (c) The British monarchy in India.