46 A. Outward Remittances under the Liberalised Remittance Scheme for Resident Individuals
(US $ million)
Purpose
2004-05
2005-06
2006-07
2007-08
1
2
3
4
5
1.
Deposit
9.1
23.2
19.7
24.0
2.
Purchase of immovable property
0.5
1.9
8.5
39.5
3.
Investment in equity/debt
—
—
20.7
144.7
4.
Gift
—
—
7.4
70.3
5.
Donations
—
—
0.1
1.6
6.
Others**
—
—
16.4
160.4
Total (1 to 6)
9.6
25.0
72.8
440.5
(US $ million)
Purpose
2008-09
April
May
June
July
August
September
October
November
December
January
1
2
3
4
5
6
7
8
9
10
11
1.
Deposit
3.4
3.0
4.1
2.3
2.6
1.6
1.2
1.4
1.6
1.7
2.
Purchase of immovable
property
7.7
7.0
6.5
5.7
4.6
5.7
3.1
2.6
2.5
2.6
3.
Investment in equity/debt
13.3
13.7
14.9
12.5
12.7
9.8
8.7
12.4
11.2
10.4
4.
Gift
8.8
10.9
10.2
12.7
16.0
7.9
8.6
23.2
9.7
7.6
5.
Donations
0.2
0.1
-
0.2
0.2
-
0.1
0.2
-
0.1
6.
Others**
17.1
18.5
20.5
27.4
123.6
26.0
19.2
19.0
32.7
33.1
Total ( 1 to 6)
50.5
53.2
56.2
60.8
159.7
51.0
40.9
58.8
57.7
55.5
— : Not available. ** : Include items such as Education, Tours and Travels. Notes : (i) The data from 2004 to 2007 are on calendar basis. (ii) Under Liberalised Remittance Scheme (LRS), currently, the residents are permitted to remit up to an amount of US $ 2, 00,000 per financial year (April-March) for any permitted current or capital account transactions or a combination of both with effect from September 26, 2007. The LRS Scheme wasintroduced in February 2004 to facilitate resident individuals to freely remit up to US $ 25,000 per calendar year, which was enhanced to US $ 50,000 per financial year in December 2006; to US $ 1, 00,000 per financial year in May 2007; and to US $ 2, 00,000 per financial year in September 2007.