1)Which macroeconomic indicators can be improved to reduce the current government budget deficit?

2)What does one mean by partial convertibility of the Indian Rupee?

1)The different macroeconomic indicators, including reducing unemployment, reducing inflationary pressure, low level of government borrowing, etc can be defined as an improved macroeconomic indicator, which can also reduce the burden of current government budget deficit.

All these macroeconomic indicators are actually the macroeconomic objectives of the government and the economy initiated to achieve a sustainable level of growth and satisfactory 'Balance of payments' mainly to avoid large deficits.

2)Partial convertibility is a process that allows the conversion of the domestic currency in terms of the foreign currency for restricted purposes. There are restrictions on the transactions that are made in the capital account in India. Partial convertibility was introduced in India in March 1992. Its main aim is to reduce the prices of the essential goods and make the foreign exchange available at lower prices. It is also referred to as a dual exchange system.