Kathmandu: Remittance inflow has reached Rs 1,532 billion in 11 months of the current fiscal year.
According to National News Agency Nepal, the remittance inflow has increased by 15.5 per cent during the reporting period as compared to the previous fiscal year. In the previous fiscal year, the remittance had increased by 17.2 per cent. From May 15 to June 14 in the current fiscal year, the remittance inflow was Rs 176.32 billion, while in the same period last year, the inflow was Rs 128.91 billion.
In US dollar terms, remittance inflow has increased by 12.7 per cent, reaching Rs 11.25 billion in the review period. This is compared to an increase of 15.2 per cent in the same period last year. Net secondary income, or net transfer, has also shown growth, reaching Rs 1,668 billion in the review period. Last fiscal year, it was Rs 1,443 billion.
The report also highlighted that the number of Nepali workers receiving first-time approval for foreign employment was 452,324, while those obtaining approval for renew entry numbered 308,067. Last year, the numbers were 421,356 and 261,210, respectively.