Rs 14.31 billion spent abroad for education in just one month
This figure is slightly lower compared to the same period last year, when expenditure had reached Rs 14.96 billion.
KATHMANDU: Despite the presence of well-equipped universities, colleges, and other academic institutions within Nepal, the trend of pursuing higher education abroad continues to rise instead of declining.
According to the data released by Nepal Rastra Bank (NRB) on Monday, a total of Rs 14.31 billion was spent in just the first month of the current fiscal year for education abroad.
This figure is slightly lower compared to the same period last year, when expenditure had reached Rs 14.96 billion.
Under the services account, travel expenses decreased by 2.8 percent, amounting to Rs 21.70 billion during the review period.
In the corresponding month last year, travel expenses were Rs 22.32 billion.
Meanwhile, the net services income showed a deficit of Rs 13.39 billion during the first month of the current fiscal year, compared to a deficit of Rs 15.06 billion in the same period last year.
On a positive note, travel income rose by 12.7 percent, reaching Rs 5.38 billion, up from Rs 4.77 billion in the same period of the previous year.
