The conversation between human and AI assistant.
What do you think will be the effect of Modi Government's decision of invalidating the RS 500 and RS 1000 notes?
And what about the long-term effects?
The long-term effects could be positive or negative depending on how effectively the government manages the transition to the new currency system. The decision could lead to a reduction in black money and corruption, promote digital payments, and increase the tax base. On the other hand, it could also lead to a slowdown in the economy, especially in the informal and cash-dependent sector.