Rs 64.15 billion capital flight for foreign study in seven months, central bank says

Kathmandu: At a time when the universities are urged to cater quality education and industries create atmosphere to retain youths within 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. Similarly, the travel spending under service category has upped by 10.6 percent, thereby reaching Rs 115. 88 billion in seven months. Among this, Rs 64.15 billion is of education sector alone. The spending for foreign education in the same period last year was, however, Rs 66.64 billion. The net service income has declined by Rs 50.22 billion in this period.