Which of the following can solve the problem of BoP deficit?

All of the above

Balance of payment deficit means when the inflow of foreign currency is less than the outflow of foreign currency. So, in order to solve the problem of BoP deficit, we need to either increase the inflow of foreign exchange or decrease the outflow of foreign exchange. Substituting the purchase of machinery from England to Nasik will result in decrease in the outflow, when Indian products will sold in the international market it will result in increase in the inflow and when the exchange rate rises i.e. currency is devalued it will result in increase in exports thus, increase in the inflow of foreign exchange. Devaluation of domestic currency make exports cheaper for the foreign country residents, due to which the exports of domestic country increases. Goods which were available at 1 dollar for the foreign residents are now available at 1/2 dollar only because the domestic currency had devalued ( earlier 1 dollar = Rs70, now 1 dollar = Rs140).