The first Indian Budget was presented by James Wilson, a Scottish economist. When was it presented?

Correct option is D

 Thecorrect answer is (D) 1860.

Explanation:

The first Indian Budget was indeed presented by James Wilson in 1860. James Wilson, a Scottish economist, presented the budget when he was the Finance Member of the Governor-General's Council. His budget laid the foundation for India's modern financial system, which included significant reforms like the introduction of taxes and the establishment of a paper currency.

Information Booster:

1. The 1860 budget was the first official budget of India after the British colonial rule had been consolidated.

2. It focused on raising revenue for the British administration and laid the groundwork for the introduction of income tax and custom duties.

3. James Wilson's budget also marked the establishment of a formal financial system in India.

4. The budget was a tool for the British to finance their administrative and military costs in India, while also controlling economic activities.

5. James Wilson is credited with playing a pivotal role in organizing the finances of British India and is often seen as the founder of the Indian financial system.