
Indians spend over $1 bn monthly on foreign travel in Apr-Dec FY23
Outward remittances under LRS for travel stood at $9.95 billion, up from $4.16 billion during the same period last year and $5.4 billion during FY21.
Outward remittances under LRS for travel stood at $9.95 billion, up from $4.16 billion during the same period last year and $5.4 billion during FY21.
The US surpassed the UAE as the top source country, accounting for 23% of total remittances in the financial year 2020-21, finds RBI survey.
The delay in stimulus announcement is disappointing and raises the probability that a stimulus, if any, might be weaker than expected, says Jefferies India.