The Charter Act of 1813

The Charter Act of 1813
After making investigation into the financial affairs of the East India Company by a Committee of the House of Commons the present Charter Act of 1813 was passed.
Although the present charter extended the trading right of East India Company for a further period of 20 years, however it abolished the trade monopoly of the company in India. That means to say that by virtue of this charter the Indian trade was thrown open to all the British Merchants.
However, it is very important to note here that although the present charter also gave the trading rights to all the British Merchants but even this charter continued the monopoly of the East India Company in respect of trade in tea and trade with China.
Under this charter, the sovereignty was asserted to the British Crown over the company’s territories in India.
It allowed the Christian missionaries to come to India for the purpose of enlightening the people in India.
It also provided for the spread of Western Education among the inhabitants of the British territories in India.
It authorised the Local Governments in India to impose taxes on persons. They could also punish the persons for not paying taxes to the Government.