Forex spending by Indians declines 2% to $29 billion in FY26 & more related News Here
Mumbai: Total outward remittances under the Liberalized Remittance Scheme (LRS) saw a contraction in FY2026, falling by nearly 2% to $29 billion from $29.6 billion recorded in FY2025. This downward trajectory highlights that visa restrictions are impacting foreign education spending, which fell 20.9% to $2.3 billion from $2.9 billion, along with a 3.1% decline in…