Assets with banking system include current account balances with other banks, advances to banks and money at call and short notice of a fortnight or less.

Ad-valorem duties This is a Latin term and it used to refer to duties that are levied on commodities/products as a certain percentage of their price. These are different from specific excise duties that are levied on products.

Budgetary Deficit Such a situation arises when the expenses exceed the revenues. Here the entire budgetary exercise falls short of allocating enough funds to a certain area.

Budget Estimates These estimates contain an estimate of Fiscal Deficit and the Revenue Deficit for the year. The term is associated with the estimates of the Center's spending during the financial year and the income received as proceeds of tax revenues.

Balance of Payment An overall statement of a country's economic transactions with the rest of the world over some period, often a year. A table of the balance of payments shows amounts received from the rest of the world and amounts spend abroad. The current account includes exports and imports, that is visible trade, and receipts from and spending abroad on services such as tourism. It also includes receipts of property incomes from abroad and remittances of property incomes abroad, and receipts and payments of international transfers, that is gifts. The capital account of the balance of payments includes inward and outward foreign direct investment, and sales and purchases of foreign securities by residents and of domestic securities by non-residents. The third element in the balance of payments is changes in official foreign exchange reserves.

Bank credit It includes loans, cash credit and overdrafts, and inland bills and foreign bills purchased and discounted. Bills exclude those rediscounted with RBI and IDBI.

Bank credit to commercial sector It includes credit to commercial sector by RBI and commercial banks. RBI's credit includes advances to and investments in shares and debentures of financial institutions, and land mortgage banks.

Bank Rate The rate at which the Bank of England used at one tome to rediscount first-class bills for its customers. It has long been abolished. At one time many other interest rates were specified in terms of their m