Charter act of 1813 : Why was it introduced? To uphold the spirit of Laissez-faire and address the grievance of the Continental system by Napoleon by which European ports were closed for Britain. The continental system prohibited imports of British Goods in European Countries. Because the British had an overwhelming superiority at sea, though, enforcing the system proved disastrous for Napoleon.
British needed a trade partner as their revenues were hit due to the continental system of Napolean, so they looked to trade with India.
1. The company’s monopoly over trade in India ended but the company retained the trade with China and the trade-in tea.
2. The company was to retain possession of territories and revenue for 20 yrs more.
3. The regulations made by the Councils of Madras, Bombay & Calcutta were now required to be laid before the British parliament. The constitutional position of British territories was defined explicitly for the 1st time.
4. A sum of 1 lac Rs was set aside for education.
5. Shareholders of the company were to be 10.5% dividend
6. Christian missionaries were allowed to come to India and preach their religion.
We hope we added some value to your life today and we would continue to do that always!
My friends, we at The Layman Way strive harder each day to make a difference in your life. What we need is just a little push to make us work even harder and impact more lives positively. This push comes to us from you all, who are our ambassadors. If at all we are adding any value to your preparation or your life, I have a favour to ask you. Spread the word for us so that we can reach out to more aspirants and leave us a review on Google https://g.co/kgs/2YyKFL. Reviews help other aspirants to know that this is the place they need to be for learning more and enhancing their UPSC preparation. Help us make a difference and we shall together strive to help you ACE UPSC.
Have a wonderful day and make your goal to make someone else life better. I will see you in our next blog.
We have launched new courses on : Indian polity: https://www.thelaymanway.com/paidcourses Master CSAT: https://www.thelaymanway.com/paidcourses Sign up for guidance: https://forms.gle/7mt68KmVUvYfgsbv8 Join our telegram channel: https://t.me/thelaymanway Subscribe: https://bit.ly/2Y8hsa3 More Course for You: Fundamentals of Physical Geography full playlist: https://bit.ly/39Xm7RH Economic survey and budget 2021full playlist for: https://bit.ly/2YuX6bg How to clear UPSC prelims in5 months Playlist: https://bit.ly/3cef5L8 Government Schemes for UPSC playlist: https://bit.ly/36A2pKU Economics for UPSC Prelims Playlist: https://bit.ly/3kgEohO How to score 120+ In UPSC Prelims: https://bit.ly/3mE3qIL Yearly Current Affairs Revision: https://bit.ly/3s8TckD British Acts and Policies Playlist: https://bit.ly/3vvARQY Environment and Ecology Series: https://bit.ly/3xhslFW CSAT Preparation Demo Lectures: https://bit.ly/2WVg651 Maps Revision Series Demo Lectures: https://bit.ly/3kUpuhQ Indian Constitution at Work Playlist: https://bit.ly/3lMMscg Direct hits in UPSC Prelims 2021: https://bit.ly/3GopdxF