46 A. Outward Remittances under the Liberalised Remittance Scheme for Resident Individuals
(US $ million)
Purpose
2004-05
2005-06
2006-07
2007-08
2008-09
1
2
3
4
5
6
1.
Deposit
9.1
23.2
19.7
24.0
30.4
2.
Purchase of immovable property
0.5
1.9
8.5
39.5
55.9
3.
Investment in equity/debt
—
—
20.7
144.7
151.4
4.
Gift
—
—
7.4
70.3
133.0
5.
Donations
—
—
0.1
1.6
1.4
6.
Others**
—
—
16.4
160.4
436.0
Total (1 to 6)
9.6
25.0
72.8
440.5
808.1
(US $ million)
Purpose
2008-09
April
May
June
July
August
September
October
November
December
January
February
March
1
2
3
4
5
6
7
8
9
10
11
12
13
1.
Deposit
3.4
3.0
4.1
2.3
2.6
1.6
1.2
1.4
1.6
1.7
1.8
5.7
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
2.7
5.2
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
6.8
25.0
4.
Gift
8.8
10.9
10.2
12.7
16.0
7.9
8.6
23.2
9.7
7.6
8.5
8.9
5.
Donations
0.2
0.1
—
0.2
0.2
—
0.1
0.2
—
0.1
0.1
0.2
6.
Others**
17.1
18.5
20.5
27.4
123.6
26.0
19.2
19.0
32.7
33.1
19.3
79.6
Total ( 1 to 6)
50.5
53.2
56.2
60.8
159.7
51.0
40.9
58.8
57.7
55.5
39.2
124.6
— : 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 was introduced 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.