In the first seven months of the current fiscal year, a significant amount of money has been sent abroad by students pursuing higher education in foreign countries. According to data released by Nepal Rastra Bank, educational expenses have reached NPR 64.15 billion.
Under the services account, travel expenses have increased by 10.6%, reaching NPR 115.88 billion. Out of this, NPR 64.15 billion has been spent on education. According to the bank, in the same period last year, total travel expenses stood at NPR 104.75 billion, with educational expenses amounting to NPR 66.64 billion.
During this period, the net service income has recorded a deficit of NPR 50.22 billion. In the same period last year, the net service income deficit was NPR 36.38 billion.
Under the services account, travel income during the review period increased by 7.7%, reaching NPR 49.21 billion. In the same period last year, this income stood at NPR 45.68 billion.
