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What will be the impact in the Indian economy of sudden 500 & 1000 rupee notes withdrawal of by the government?
I am curious about the recent 500 and 1000 rupee notes withdrawal by the Indian government. What impact will it have on the Indian economy?
The sudden withdrawal of high denomination currency notes is a bold move by the Indian government to curb black money and corruption in the country. However, it may lead to some short-term disruption and inconvenience for the people and businesses. In the long run, it is expected to have a positive impact on the economy by boosting the formalization of the economy and increasing tax revenues.