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Modi's announcement on banning 500 and 1000 currency notes. How would it affect economy?
Can you tell me your thoughts on Modi's announcement on banning 500 and 1000 currency notes? How would it affect the economy?
The demonetization move by Modi is a bold step towards curbing black money and corruption in India. However, it is expected to have some short-term negative impacts on the economy, including a temporary cash crunch and a slowdown in GDP growth. But in the long run, it can potentially boost cashless transactions and formalize the economy, which could have positive impacts.