Kathmandu: At a time when universities are urged to cater quality education and industries create atmosphere to retain youths within the country, the Nepal Rastra Bank has recorded a hefty amount flown together with the students for foreign study. In the last seven months of the current fiscal year, such amount stood at Rs 64.15 billion.
According to National News Agency Nepal, the travel spending under the service category has increased by 10.6 percent, reaching Rs 115.88 billion in seven months. Among this, Rs 64.15 billion is attributed to the education sector alone. This indicates a significant portion of travel expenditure is dedicated to students seeking education abroad.
The spending for foreign education in the same period last year was Rs 66.64 billion, suggesting a slight decrease in the amount spent this year. Despite this decrease, the figures highlight the ongoing trend of students pursuing studies outside the country.
The net service income has declined by Rs 50.22 billion during this period,
raising concerns about the financial implications of such substantial capital outflow. The data underscores the need for improved educational infrastructure and opportunities within Nepal to curb the trend of capital flight for foreign education.