Kathmandu, August 25: The Nepal Rastra Bank has said that despite the establishment of various universities and educational institutions in Nepal, a large amount of Nepali rupees continues to be sent abroad for higher education.

According to the recently released report of the financial year 2081/82 by the Rastra Bank, Rs138.48 billion has been released for education alone. This amount is more than the previous fiscal year (2080/81) foreign investment of 125 billion rupees.

According to the central bank, travel expenses under the service account increased by 18.1 per cent to Rs 223.72 crore during the period under review. Last year, the expenditure was Rs 1.89 crore. This has led to a deficit of Rs 90.94 billion in the fiscal year 2081/82, which was a deficit of Rs 55.86 billion in the previous year.

However, there has been a general increase in income from travel. During the year under review, the tourism revenue increased by 7.7 per cent to Rs 88.66 billion as compared to Rs 82.33 billion in the previous year.

People’s News Monitoring Service.