Remittance decreased by Rs 20 billion in second month of current fiscal year

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Kathmandu. The inflow of remittance to Nepal has increased by 8.1 percent in the current fiscal year 2020-21 to 165 billion 730 million rupees. It had a marginal 0.6 percent drop in the same period last year.

Compared to the first month (mid-July to mid-August) of the current fiscal year, the remittance decreased by 20 billion rupees in the second month. Nepali migrant workers had sent home 92 billion 700 million rupees in the first month.

The number of Nepalis workers taking approval for foreign employment (institutional and individual-new and legalized)  decreased by 99.2 percent in the first two months of the current fiscal year.It had decreased by 0.2 percent in the same period of the previous year.

The number of Nepali workers seeking renewed entry approval for foreign employment has decreased by 86.5 percent in the review period. It had increased by 10.3 percent in the same period last year.

According to Nepal Rastra Bank, the corona pandemic has led to the drop in workers going to foreign countries.

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