The conversation between human and AI assistant.
How will Indian GDP be affected from banning 500 and 1000 rupees notes?
That makes sense. Have there been any estimates on how much the GDP has been affected?
Yes, some economists estimate that India's GDP could experience a contraction of 1-2 percentage points in the short term as a result of the demonetization policy. However, in the long term, the move is expected to lead to a more stable economy by rooting out black money and improving the country's tax system.