Inflationary concerns aside, we also have to realise that fiscal deficits are always accompanied by trade deficits.
Though India will be affected and the rupee may weaken, comforting levels of foreign exchange reserves will likely soften the blow. Emerging economies with high external debt measured in US$ will suffer more.
Everyone knows why the previous governor of RBI had to leave. Urjit Patel understands the circumstances under which he assumed charge but has still risen to the occasion.