Kathmandu, March 11
Nepal Rastra Bank (NRB) has reported a significant outflow of capital for foreign education, amounting to Rs 64.15 billion in the first seven months of the current fiscal year.
Despite calls for universities to enhance educational quality and industries to create an environment that retains youth within the country, a substantial sum continues to be spent on overseas studies.
During the same period, total travel expenditure under the services category increased by 10.6 per cent, reaching Rs 115.88 billion. Of this, Rs 64.15 billion was spent on education alone.
The expenditure on foreign education during the corresponding period last year stood at Rs 66.64 billion, indicating a slight decline.
Meanwhile, net service income has declined by Rs 50.22 billion during this period.
