The system of Budget was introduced in India during the Viceroyalty of Canning. A budget is a financial plan that outlines the estimated sources of income and planned expenditures for a specific period. It helps in regulating and managing the finances of a country or organization. In India, the concept of budgeting was first introduced during the Viceroyalty of Lord Canning. This period was from 1856 to 1862. Lord Canning was the Governor-General and the first Viceroy of India. He introduced the budget system to promote better financial planning and transparency in governance. The budget helped in allocating resources, prioritizing expenditures, and ensuring accountability in financial matters. Overall, the introduction of the budget system was a significant step towards efficient financial management in India.