Rajeev Chandrasekhar's official website - Member of Parliament

 

GOVERNMENT OF INDIA

Ministry of Finance

DEPARTMENT OF ECONOMIC AFFAIRS

RAJYA SABHA

UNSTARRED QUESTION NO. 1085

TO BE ANSWERED ON 14TH JULY 2009/ 23 ASADHA,(SAKA) 1931

Remittance against Tuition Fees

 

1085:SHRI RAJEEV CHANDRASEKHAR

Will the Minister of FINANCE be pleased to state:

(a)        the total number of students enrolled in Australian institutes and total remittance from India against tuition fees of such students annually; and

(b)        the total forex outflow in terms of overseas students’ tution fees and expenses?

ANSWER 

MINISTER OF STATE IN THE MINISTRY OF FINANCE

(SHRI NAMO NARAIN MEENA)

 (a) & (b) As on 3l March 2009, the total number of Indians holding student visa in Australia is 81,690. The total forex outflow in terms of ‘education related payments’ during the last five years is as under:

(US $ million)

YearAmount

2004-05

642

2005-06

1,114

2006-07

1,105

2007-08

2,827 (PR)

2008-09

2,247 (P)

 PR : Partially Revised, P: Provisional

Remittance towards tuition fees is a current account transaction and RBI have delegated the powers to authorised dealers to allow remittances towards tuition fees without the prior approval of Reserve Bank of India. Detailed country wise break up of forex outflow in terms of overseas students’ tuition fees and expenses is not maintained.