Indian Economy
Fiscal deficit in the Union Budget means

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

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Indian Economy
Devaluation of a currency means

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

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