This is the highest ever outflow under the liberalised remittance scheme in a year. Following the revision in outward remittance limit for individuals by RBI under the liberalised remittance scheme (LRS) from $125,000 to $250,000 in February 2015, FY16 witnessed a 3.5 fold jump in remittance over the previous year from $1.3 billion to $4.6 billion. $1.2 billion:Outflow of funds under LRS for study purposes and the amount remitted jumped over four times against last year. Money remitted for the purpose also witnessed 8-fold jump over last year. It accounted for 30% of the total money remitted out during the year.

Source: Indian Express May 12, 2016 21:18 UTC