Over Rs 14 Billion Spent Abroad for Education in Just One Month

Despite the presence of universities, colleges, and educational institutions within the country, the trend of students going abroad for higher studies continues to rise. According to the data published by Nepal Rastra Bank on Monday, in the first month of the current fiscal year alone, Rs 14.31 billion was spent on education abroad.

In the same period of the previous fiscal year, the amount spent was slightly higher at Rs 14.96 billion, showing a marginal decline this year. However, the overall tendency of Nepali students opting for foreign education remains strong.

Alongside education, a large sum has also been spent under the services account. During the review period, travel expenses decreased by 2.8 percent to Rs 21.70 billion, compared to Rs 22.32 billion in the same period last year.

Meanwhile, travel income recorded growth. It increased by 12.7 percent to Rs 5.38 billion in the review period, compared to Rs 4.77 billion in the same period of the previous year.

Overall, however, the net services income remained in deficit by Rs 13.39 billion during the review period. In the same period last year, the deficit had been Rs 15.06 billion.