The conversation between human and AI assistant.
Is this move of banning 500 & 1000 Rupee notes right?
Were there any positive outcomes from the demonetization?
Yes, definitely. According to reports, the number of income tax filings increased significantly after the demonetization, indicating that more people were now willing to pay their taxes. It also resulted in the rise of digital payments and the formal economy, reducing the amount of unaccounted money in circulation.