The Charter Act of 1833 | CUET PG History | Notes

The Charter Act of 1833 was enacted by the British Parliament to renew the East India Company's Charter Act of 1813. Charter Act of 1833 ended the Company’s monopoly over trade with India except for trade in tea and trade with China.

The Charter Act 1833 or the Government of India Act 1833, also known as Saint Helena Act 1833 (this act took away the Island of Saint Helena in the southwest Atlantic from the English East India Company), is an Act of the United Kingdom Parliament. The act was an important step in the direction of legislative centralisation.

Historical Background

• The Charter Act of 1833 was enacted against the backdrop of significant changes that had occurred in Great Britain as a result of the Industrial Revolution.
• The principle of laissez-faire was accepted as the government's attitude toward the industrial enterprise.
• The Reform Act of 1832 was the result of the liberal movement.
• In this situation of liberalism and reform, the parliament was asked to renew the Charter in 1833.
• During the formation of the Charter Act of 1833, the political atmosphere in Britain was looking for reforms and liberal ideas.
• They agreed with Macaulay to continue the company rule but on a different basis
• However when the Whig party was in power, the bill was introduced in the parliament and the parliament was in a mood to favor reforms, free trade, and codification of laws.
• The Charter Act of 1833 was passed with the recommendations of a parliament inquiry which became a landmark in the constitutional history of India.