As the budget announcement for fiscal year 2024-25 nears, the Overseas Investors Chamber of Commerce has suggested abolition of Rs5,000 banknote in order to discourage cash transactions. This was one of the recommendations given by the body to the government ahead of the upcoming budget. The government intends to present the budget for fiscal year 2024-25 on June 7, but an official date is yet to be issued. The body, comprising of 200 multinational companies that represents foreign investors.
