Question : The system of Budget was introduced in India during the viceroyalty of
Option 1: Canning
Option 2: Dalhousie
Option 3: Rippon
Option 4: Elgin
Correct Answer: Canning
Solution : The correct answer is Canning.
James Wilson was the first finance member to present the budget. A member of the interim government named Liaquat Ali Khan presented the 1947–48 budget. The first budget was introduced on April 7, 1860, while Lord Canning was viceroy, two years after the East India Company turned over control of Indian administration to the British Crown.
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