Indian Economy
Devaluation of a currency means

reduction in external value/exchange value of currency by the government
all of the listed here
fall in exchange value of a country by market forces
reduction in currency value due to wear and tear

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Indian Economy
The budget deficit means

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

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