Rs 47.71 billion paid for abroad study in five months

Kathmandu, Jan 17: A huge amount of cash was transferred for education from Nepal in the first five months of current fiscal year.    

In a Current Macroeconomic and Financial Situation of Nepal (Based on Five Months Data Ending Mid-December, 2024/25) released by the central bank, a total of Rs 47.71 billion was paid for education under the service account.    

"Under the service account, travel payments increased 12.2 percent to Rs 85.01 billion, including Rs.47.41 billion for education," the Nepal Rastra Bank (NRB) stated.    

According to the NRB, such payments were Rs 75.73 billion for travel payments and Rs 47.34 billion for education in the same period of the previous year.    

Likewise, the net services income remained at a deficit of Rs 40.71 billion in the first five months of the current fiscal year compared to a deficit of Rs 26.55 billion in the same period of the previous year.    

Under the service account, travel income increased 3.1 percent to Rs 35.19 billion in the review period which was Rs 34.12 billion in the same period of the previous year.(RSS)