The conversation between human and AI assistant.
Why is the Indian government not abolishing the currency note of 500 and 1000 to reduce black money?
Did the move have any negative impact on the economy?
The move to demonetize the old 500 and 1000 rupee notes did have a negative impact on the economy in the short term. It led to a temporary cash crunch and slowdown in economic activity. However, the government maintains that the long-term benefits of the move will outweigh the short-term costs.