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Monday, 18 December 2017

The system of Budget was introduced in India during the viceroyalty of :

  By GK Planet Team       Monday, 18 December 2017
Q. The system of Budget was introduced in India during the viceroyalty of :

A. Canning
B. Dalhousie
C. Ripon
D.Elgin
Answer: Canning
System of budget was introduced in india during the viceroyalty of Canning
Charles John Canning, 1st Earl Canning KG GCB KSI PC (14 December 1812 – 17 June 1862), known as Viscount Canning from 1837 to 1859, was an English statesman and Governor-General of India during the Indian first war of Independence
Notable Event by Canning are:
  • University of Bombay, Calcutta and Madras were set up in 1858
  • The revolt of 1857
  • The Government of India Act, 1858
  • Hindu Widows' Remarriage Act, 1856

First Indian Budget

The Budget was first introduced in India on 7th April, 1860 from East-India Company to British Crown. The first Indian Budget was presented by James Wilson on February 18, 1869. Mr Wilson was the Finance Member of the India Council that advised the Indian Viceroy. He was Scottish businessman, economist and Liberal politician. He founded The Economist and the Standard Chartered Bank.
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