Who introduced ‘Financial Decentralization’ in India?
Answer
Correct Answer : d ) Lord Mayo
Explanation :Lord Mayo started financial decentralization in India followed by Lord Ripon. Financial decentralisation is the transfer of expenditure responsibilities and revenue assignments to lower levels of government.
Lord Mayo came to India in 1869 AD as the Viceroy of India and served his term from 1869 to 1872.
He evolved a proper system of budgeting that converted persistent deficits into surpluses. The provincial governments were authorised to resort to local taxation to balance their budgets.
He established Mayo College in Ajmer to educate the children of aristocratic families.
Hence, (D) is the correct answer.
Read about the Advent of Europeans in India.
Share QOTD
Popular Blog
Paris Olympics 2024: Brief History of Olympics, Winners at Paris Olympics, Related Facts
Read More
Highlights of Union Budget 2024-25
Read More
Highlights of Interim Budget 2024
Read More
150+ Paryayvachi Shabd in Hindi - पर्यायवाची शब्द
Read MoreLatest Current Affairs
Daily Current Affairs and GK | 15 and 16 December 2024
Read More
Daily Current Affairs and GK | 14 December 2024
Read More
Daily Current Affairs and GK | 13 December 2024
Read More
Daily Current Affairs and GK | 12 December 2024
Read More
Daily Current Affairs and GK | 11 December 2024
Read MoreLatest Banking Awareness
Banking Awareness of 11, 12 and 13 December 2024
Read More
Banking Awareness of 8, 9 and 10 December 2024
Read More
Banking Awareness of 6 and 7 December 2024
Read More
Banking Awareness of 3, 4 and 5 December 2024
Read More
Banking Awareness of 1 and 2 December 2024
Read More
Comments