KATHMANDU: Amid calls for universities to provide quality education and industries to create an environment that retains youth within the country, the Nepal Rastra Bank has reported a significant outflow of funds associated with students pursuing foreign education.
In the first seven months of the current fiscal year, the total amount of capital flight for foreign study reached Rs 64.15 billion.
Similarly, travel spending under the service category has increased by 10.6 percent, totaling Rs 115.88 billion in the same period. Of this, Rs 64.15 billion is attributed to the education sector alone.
In comparison, spending on foreign education during the same period last year was Rs 66.64 billion.
Furthermore, net service income has declined by Rs 50.22 billion during this period.
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