Rising outward remittances

With foreign travel and studying abroad accounting for the bulk of the remittances by Indians, using a sledgehammer may not work

In the current debate over how India’s current account deficit has widened and what measures need to be taken to keep it under check, there has often been a mention of the rapidly rising outward remittances by Indians in the last few years. The obvious purpose of the suggestion is to underline the need for a proper diagnosis of what has contributed to the rise in outward remittances in the last few years and whether these can be reined in and, if so, with what kind of measures. 

A recent compilation of India’s outward remittances under the Liberalised Remittance Scheme (LRS)