Remittances for education declines as Indian students reassess costs and destinations
In FY25, outward remittances under the Liberalised Remittance Scheme (LRS) for studying abroad fell 16 per cent to $2.91 billion compared with the previous year. Remittances for education have been steadily declining since the Covid peak of $5.16 billion recorded in FY22. This sustained drop reflects changing financial strategies, shifting destination preferences and a recalibrated…
