Indian Economy
The budget deficit means

difference between revenue receipts and revenue expenditure
fiscal deficit less interest payments
the excess of total expenditure, including loans, net of lending over revenue receipts
difference between all receipts and all the expenditure

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Indian Economy
If the RBI adopted an expansionist open market operations policy, this means that it will

buy securities from non-government holders
sell securities in the open market
offer commercial banks more credit in the open market
openly announce to the market that it intends to expand credit

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