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?
What has been the impact of demonetization on different sectors of the Indian economy?
Different sectors of the Indian economy were impacted differently by the demonetization. The informal sector, which relies heavily on cash transactions, was hit the hardest. The real estate and jewelry sectors also faced significant slowdowns due to the cash crunch. However, sectors that rely more on digital payments like online retail, fin-tech, and e-wallets saw a significant boost in business. Overall, while the demonetization did have some negative short-term impacts, it is expected to have a positive long-term impact on India's economy.