Question
If a government defaults on the value of its debt by
3/4, this is the same as imposing a ____ tax on interest and repayment of the principal.Solution
I borrow 100 euros from you and promise to pay you back next year the principal and 10%. That means I owe you 110 euros next year. I now unilaterally declare that I will only honour 25 euros of debt to you. Next period I pay you 27.5 euros [25 + 1/4(10)]. That is the same amount as though announcing to you next period that I would tax your 110 euros 75% (i.e., you keep only .25*110=27.5)
Air India is establishing South Asia’s largest flight training school. Where will this training school be located?
Chandrayaan 3 achieved a significant milestone by successfully soft-landing on which unexplored region of the Moon?
Which of the following statements about GenAI patents is incorrect?
1. India ranks fifth with 1,350 GenAI patents from 2014 to 2023.
2. In...
In 2022, which aquatic species ranked eighth globally in yield according to the UN study "The State of World Fisheries and Aquaculture 2024"?
Who is known as the ‘Father of Angioplasty’ in India, who passed away in 2025?
Which among the following recently passed a bill allowing people to carry concealed guns without permit?
Reserve Bank of India has launched its first global hackathon named __________?
What is the duration of the one-time amnesty scheme approved by ESIC?
Which state ranked first in the Urban Governance Index (UGI) 2024 in India?
What was the investment estimate for Phase 1 of the Green Tug Transition Program (GTTP) set to run until December 31, 2027?
