The conversation between human and AI assistant.
Will the scraping of 500 and 1000 rupees have negative effect on Indias's economy?
Can we discuss the recent scraping of 500 and 1000 rupees in India? Do you think it will have a negative effect on the country's economy?
Yes, certainly. The immediate effects of demonetization have been negative, with many facing cash shortages and a decrease in consumer spending. However, in the long term, it is expected to have positive effects on tax revenues and reduce the amount of black money in circulation.