The system of provincial contracts by which each province was made responsible for its own finances ...........

Indian Freedom Struggle (Easy) Viceroys and Governor Generals

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The system of provincial contracts by which each province was made responsible for its own finances, was started by :

Lord Curzon

Lord Ripon

Lord Mayo

Lord Linlithgow

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Explanation:

Lord Mayo, Viceroy Of India (1822-1872) succeeded Lord Lawrence as the Viceroy and Governor General of India. Following changes are during Lord Mayo:
In 1870 Lord Mayo’s first provincial settlement. Wahabi and Kuka movement was active. Organization of Statistical Survey of India. Establishment of Department of Agriculture and Commerce. Mayo’s resolution of 1870 started the process of decentralization of finances. Evolved a proper system of budgeting as a result of which persistent deficits were converted into surpluses. The provincial governments were authorised to resort to local taxation to balance their budgets.
Sir John Strachey the finance member of the viceroy council tried to equalize the rates of salt duties in the British provinces. The British parliament passed the Royal Titles Act investing Queen Victoria with the title of Kaiser-i-hind or Queen Empress of India. Introduced the gold standard into the monetary system.