योग्य पर्याय निवडा. मौद्रिक तूट म्हणजे :

The correct answer is Option A ((a) is correct).

Key Points:
• Correct Option Evaluation: The correct answer is option (1) (a) is correct.
• Monetised Deficit Concept:
• Definition: Monetised deficit refers to the net increase in the holdings of Central Government treasury bills and borrowings from the Reserve Bank of India (RBI) during a financial year. It represents the extent to which government deficit is financed by printing money (RBI credit to the government).
• Analysis of Options:
• (a): Net hike in advances and treasury bill purchases of Central Government from the Reserve Bank. (Matches exact definition)
• (b), (c), (d): Describe fiscal deficit, budget deficit, and revenue deficit respectively, not monetised deficit.
• Exam Insight: Following the FRBM Act and 1994/1997 agreements between the Government and RBI, automatic monetization of budget deficits through ad hoc treasury bills was phased out to control inflation.
• Key Takeaway: Monetised deficit is the net increase in Central Government advances and borrowings from the Reserve Bank of India.