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Last updated date: 17th May 2024
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Answer
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Hint: The Indian Independence Act of 1947 was sanctioned by the British parliament that decided to partition British India into independent nations of India and Pakistan by 15th August 1947. This was agreed upon by the Indian National Congress, Muslim League and the Sikh community.

Complete answer:
British Prime Minister Clement Atlee promised complete independence to India by 30th June 1948. The future of the princely states was to be decided afterwards. The 3rd July plan came to be called the Mountbatten Plan. Lord Mountbatten was the last Viceroy of India and he was the one to initiate a speedy transfer of power between India and the British rulers. According to the proposal of the plan, The princely was to decide whether they wanted to remain independent or join the Constituent Assembly.

The provisions of the Mountbatten plan were:
1. The British dominated India was to be separated into India and Pakistan respectively.
2. The Constitution that was framed by the Constituent Assembly would not be relevant for the Muslim majority areas as these will go to Pakistan. The provinces would decide the Constitution for the Muslim majority areas.
3. Transfer of power would take place on 15th August 1947.
4. The title ‘Emperor of India’ could not be used by the British Monarch anymore
5. The British Parliament could not enact any laws after the dominions were created.

Note: On the midnight of 14th August Pakistan came into being and the next day India received its independence. Jawaharlal Nehru became the first Prime Minister of India along with Rajendra Prasad as the President.
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