The scheme of financial devolution which was a landmark in Indian financial history was introduced by which Viceroy?

May 30, 2023

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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

(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.

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