The system of presenting an annual financial statement and budget for British India was introduced during the viceroyalty of which Governor General?

Introduction / Context:
The idea of a modern budget, where the government presents a formal statement of income and expenditure for a financial year, was gradually introduced into British India. This question tests knowledge of which viceroy presided over the introduction of a regular budget system. It ties administrative history to the development of financial institutions in the colonial period and is a typical factual question in examinations on Indian polity and history.

Given Data / Assumptions:
The question asks about the viceroyalty during which the budget system was introduced. The options list several well known Governor Generals and Viceroys: Canning, Dalhousie, Ripon, Elgin, and Lytton. We assume that the learner knows that the first formal budget for India was presented in the 1860s and that this development followed the Revolt of 1857, when the administration passed from the East India Company to the British Crown.

Concept / Approach:
After the Revolt of 1857, Lord Canning became the first Viceroy of India under the Crown. During his tenure, institutional reforms included the introduction of a regular budget system. The first Indian budget is usually linked with the work of James Wilson, who presented it in 1860. Because this occurred under Canning, the correct answer must be his name. The other viceroys listed either served earlier than the budget system or focused on different reforms such as railways, education, or local self government.

Step-by-Step Solution:
Step 1: Recall that the Revolt of 1857 led to the Government of India Act of 1858 and the appointment of Lord Canning as the first Viceroy under the Crown. Step 2: Note that the first formal budget for British India was presented in 1860 by James Wilson. Step 3: Recognise that this fell squarely within the tenure of Lord Canning. Step 4: Compare with other options. Dalhousie left office before 1856. Ripon served later, in the 1880s. Elgin and Lytton belonged to subsequent decades. Step 5: Conclude that Lord Canning is the correct viceroy associated with the introduction of the budget system.

Verification / Alternative check:
Standard reference books on Indian constitutional and administrative history note that the budget system in India began in the early 1860s. They also mention James Wilson's role and explicitly place this reform in the context of Lord Canning's viceroyalty. There is no similar claim attached to Dalhousie, Ripon, or later viceroys regarding the origin of the budget system. This clear link between the first budget and Canning's tenure verifies the answer.

Why Other Options Are Wrong:
Lord Dalhousie is wrong because his tenure ended before the Revolt of 1857, and he is mainly known for doctrines such as the Doctrine of Lapse, railway expansion, and postal reforms. Lord Ripon is incorrect because he is associated with local self government and educational reforms in the 1880s, not with the initial introduction of a formal budget. Lord Elgin and Lord Lytton served later and dealt with issues like famine and imperial policy, not the first establishment of a budget system.

Common Pitfalls:
Students sometimes confuse the introduction of the budget system with broader financial or land revenue reforms under Dalhousie. Others may pick Ripon because he is famous for important reforms and seems like a natural choice. To avoid these mistakes, it is helpful to remember that Canning oversaw many foundational changes just after the transfer of power from the East India Company to the Crown, including the first modern budget for British India.

Final Answer:
The system of presenting a regular budget in British India was introduced during the viceroyalty of Lord Canning.