The conversation between human and AI assistant.
What do you think of the decision by the Indian Government to demonetize 500 and 1000 rupee notes?
Interesting. How did the government respond to the criticisms and challenges?
The government defended the demonetization as a necessary reform to target illegal activities and promote the larger public interest. It also took measures to ease the cash crunch, such as increasing the withdrawal limit, printing more notes, promoting digital payments, and implementing a tax amnesty scheme. However, the opposition parties, civil society groups, and experts criticized the move as ill-planned, poorly executed, and inconclusive, with some estimating that the costs outweighed the benefits.