Rs 64.15 billion spent on foreign education in 7 months
In the first seven months of the current fiscal year, the total outflow reached Rs 64.15 billion for educational purposes alone.
KATHMANDU: As universities are encouraged to provide quality education and industries work to create an environment that retains youth within the country, Nepal Rastra Bank (NRB) has reported a significant outflow of funds, mainly driven by students seeking foreign education.
In the first seven months of the current fiscal year, the total outflow reached Rs 64.15 billion for educational purposes alone.
Additionally, spending on travel in the service category has increased by 10.6%, reaching Rs 115.88 billion in the same period.
Of this, Rs 64.15 billion was allocated to education abroad.
In comparison, the spending on foreign education during the same period last year was Rs 66.64 billion.
Meanwhile, the net income from services has decreased by Rs 50.22 billion during this period.
