December 17: The money spent by Nepali nationals for education in foreign countries is increasing every year. According to the latest report of Nepal Rastra Bank, Nepalis going abroad for studies transferred Rs 38.5 billion to foreign countries in the first four months of the current fiscal year.

The Current Macroeconomic and Financial Situation Report of Nepal published recently by the central bank shows Rs 38.44 billion have been withdrawn from Nepal in the name of education from mid-July to mid-November of the current fiscal year (FY). This amount is 70 percent more than the money spent on foreign education in the corresponding period of last fiscal year. In the first four months of last FY, Nepali students who went to study abroad spent Rs 22.68 billion.

According to the Ministry of Education, Science and Technology, a total of 33,865 Nepali students took ‘No Objection Letter’ during the review period for higher education in foreign countries.