Regulating Act was passed by British Parliament in 1773. That time they appointed a governor general to look after British India.
The law was the beginnings of the central govt of the , British Raj.
The single most significant institution to shape the Indian subcontinent for the next two centuries.
For an institution with such a long history, however it is today’s facing a rather a big problem of cash crunch.
The main point for this is falling tax revenue due to an under performing GST – Goods and Services Tax.
The expenditure as a percentage of GDP actually fell in 2018-19 and the actual expenditure of the centre was down by 1.31 trillion than the budget estimates.