Q. Who is regarded as the creator of the Budget System in India?
(a) Charles Edward Trevelyan
(b) James Wilson
(c) Samuel Laing
(d) John Strachey
Ans: (b) James Wilson
Explanation: The creator of the Budget System in India is (b) James Wilson. James Wilson, a Scottish economist and politician, is widely regarded as the architect of the modern budget system in India. He served as the Finance Member of the Governor-General’s Council in British India and presented the first comprehensive budget of India in 1860. Wilson’s budget laid the foundation for financial planning and resource allocation in India, introducing a systematic approach to revenue and expenditure management. His budgetary reforms played a crucial role in shaping India’s fiscal policies and financial administration.
