KATHMANDU, MARCH 11

At a time when universities are being urged to provide quality education and industries are expected to create opportunities to retain youth within the country, Nepal Rastra Bank has recorded a significant outflow of funds for foreign education.

In the first seven months of the current fiscal year, a total of Rs 64.15 billion has been spent on foreign studies. Meanwhile, travel spending under the service category has increased by 10.6 percent, reaching Rs 115.88 billion in the same period, with education alone accounting for a substantial portion of it.

Last year, during the same period, the spending on foreign education stood at Rs 66.64 billion, indicating a slight decrease this year.

Additionally, net service income has seen a decline of Rs 50.22 billion in this period, raising concerns over the growing financial outflow from the country.