Indian Economy
Deficit financing leads to inflation in general, but it can be checked if

only aggregate demand is increased
government expenditure leads to increase in the aggregate supply in ratio of aggregate demand
all the expenditure is denoted national debt payment only
All of the listed here

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Indian Economy
Devaluation of a currency means

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

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