Indian Economy
Fiscal deficit in the Union Budget means

the difference between current expenditure and current revenue
net increase in Union Governments borrowings from the Reserve Bank of India
the sum of budgetary deficit and net increase in internal and external borrowings
the sum of monetized deficit and budgetary deficit

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Indian Economy
In pursuance with the recommendations of Narsimham Committee, the RBI has framed new guidelines

to govern entry of new private sector banks to make the banking sector more competitive
to setup more foreign exchange banks
to reduce the freedom given to banks to rationalize their existing branch network
to lend more easily for industrial development

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

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

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