Rs 32.76 billion outflow as students head abroad for higher studies
As per the central bank’s macroeconomic report for the second month of the current fiscal year, students took out Rs 32.76 billion in Bhadra alone.
KATHMANDU: A large amount of money has flowed out of Nepal through students pursuing higher education abroad, according to the latest data from Nepal Rastra Bank.
As per the central bank’s macroeconomic report for the second month of the current fiscal year, students took out Rs 32.76 billion in Bhadra alone.
During the same period last year, the amount was Rs 28.20 billion, showing a significant rise.
Under the services account, travel expenses increased by 9.6 percent, reaching Rs 47.31 billion, compared to Rs 43.18 billion in the corresponding period of the previous year.
Similarly, the net service income recorded a deficit of Rs 31.16 billion, higher than the Rs 27.93 billion deficit during the same period last year.
Meanwhile, travel income rose by 9.8 percent, reaching Rs 11.58 billion, compared to Rs 10.55 billion in the same period last year, according to the report.
