Indians spending on foreign education under the RBI’s liberalised remittances scheme (LRS) has contracted for 14 months in a row through September 2025, amid visa curbs by the US.
Which component contracted the most?
LRS spending on travel, the largest component, has contracted for five straight months.
However, spending on purchase of property and investment in equity and debt has seen faster growth in the last one year and more, raising their share in overall outward remittances.
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Expenditure in numbers
In the year through September, $28.75-bn was spent abroad under LRS, including $16.4 billion on travel, $2.1 billion on stocks, $2.6 billion on education and $428 million on property.