Indian Economy
Subsidies mean

payment by government for purchase of goods and services
payment made by business enterprises to factors of production
payment made by companies to shareholders
payment made by the government to business enterprises, without buying any goods and services

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Indian Economy
Devaluation of a currency means

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

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