The conversation between human and AI assistant.
What is the reason behind the sudden discontinuance of 500 and 1000 notes by PM Modi?
Did discontinuing 500 and 1000 notes have any negative effects on the Indian economy?
Yes, the demonetization move did have some negative impacts, such as a decrease in GDP growth rate and a decrease in consumer purchasing power. Small businesses, particularly those in the informal sector, also suffered due to a lack of cash flow. However, it is believed that in the long run, the benefits of the move will outweigh these short-term drawbacks.