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Nominal Drop In Remittance Inflow Amid COVID-19 Crisis: Nepal

The migrant workers sent Rs 875.3 billion back home from the countries of destination while the remittance amount was Rs 879.27 billion in previous year.
Remittance Inflow (Image for Representation)

N24 Staff Writer, KATHMANDU: Against the growth of 16.5 per cent in the fiscal year 2018/19, the remittance inflow in the country saw negative growth in the fiscal year 2019/20, according to the central bank of Nepal. The remittance inflow decreased by Rs 4.24 billion in the last fiscal year compared to the previous fiscal year.

The migrant workers sent Rs 875.3 billion back home from the countries of destination while the remittance amount was Rs 879.27 billion in previous year. The reduction in remittance inflow in the country is predicted as an impact of coronavirus infection in the countries of destination.

According to the report of the Nepal Rastra Bank released today, remittance income in the country reduced by 3.3 per cent in the US Dollar last year while it had increased by 7.8 per cent in the previous fiscal year.

Similarly, the number of migrant workers receiving final labour approval decreased by 20.5 per cent while the number of such migrants had gone up by 32.6 per cent in the previous fiscal year.

For Indian tourists travelling by land:- 72 hours (-ve) C-19 report, CCMC form and Antigen Test at entry point

For Indian tourists travelling by land:- 72 hours (-ve) C-19 report, CCMC form and Antigen Test at entry point

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Information for Indian tourists travelling by land:- 72 hours (-) C-19 report, CCMC form and Antigen Test at entry point