Open market operations (OMO) refer to the buying and selling of government securities in the open market in order to expand or contract the amount of money in the banking system.
An excise or excise tax or excise duty is a type of tax charged on goods produced within the country (as opposed to customs duties, charged on goods from outside the country). It is a tax on the production of a good. This tax is now known as the Central Value Added Tax (CENVAT).