The Charter Act of 1813 passed by the British Parliament renewed the East India Company’s charter for another 20 years. This is also called the East India Company Act, 1813. This act is important in that it defined for the first time the constitutional position of British Indian territories.
- Company’s rule and trade monopoly in India was extended to another 20 years. Monopoly was ended except for the trade in tea and with China.
- It empowered the local governments to tax people subject to the jurisdiction of the Supreme Court.
- The company’s dividend was fixed at 10.5%.
- The Act gave more powers for the courts in India over European British subjects.
- Another important feature of this act was to grant permission to the missionaries to come to India and engage in religious proselytization. The missionaries were successful in getting the appointment of a Bishop for British India with his headquarters as Calcutta in the provisions of the Act.
- The act provided for a financial grant towards the revival of Indian literature and the promotion of science.
- The company was also to take up a greater role in the education of the Indians under them. It was to set aside Rs.1 Lakh for this purpose.