Q. The scheme of financial devolution which was a landmark in Indian financial history was introduced by which Viceroy?
(a) Lord Lawrence
(b) Lord Mayo
(c) Lord Lytton
(d) Lord Ripon
Ans: (b) Lord Mayo
Explanation: The corrcet answer is Lord Mayo. Lord Mayo’s Resolution of 1870 on Financial Decentralisation visualised the development of local self-government institutions. Its resolution pertained to financial decentralization which was a legislative devolution inaugurated by the Indian Council Act of 1861.
