44A. Outward Remittances under the Liberalised Remittance Scheme for Resident Individuals

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Published on February 13, 2012

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44A. Outward Remittances under the Liberalised Remittance Scheme for Resident Individuals

(US$ Million)
Purpose		2004-05	2005-06	2006-07	2007-08	2008-09	2009-10	2010-11
Purpose		1	2	3	4	5	6	7
1.	Deposit	9.1	23.2	19.7	24.0	30.4	37.4	29.6
2.	Purchase of immovable property	0.5	1.9	8.5	39.5	55.9	47.6	66.3
3.	Investment in equity/debt	–	–	20.7	144.7	151.4	206.5	265.9
4.	Gift	–	–	7.4	70.3	133.0	159.9	242.5
5.	Donations	–	–	0.1	1.6	1.4	5.3	3.6
6.	Travel	–	–	–	–	–	17.4	16.2
7.	Maintenance of close relatives	–	–	–	–	–	170.9	255.2
8.	Medical Treatment	–	–	–	–	–	18.3	5.7
9.	Studies Abroad	–	–	–	–	–	217.8	150.1
10.	Others**	–	–	16.4	160.4	436.0	101.8	128.6
	Total (1 to 10)	9.6	25.0	72.8	440.5	808.1	983.0	1163.5

(US$ Million)
Purpose		2010-11
		Apr.	May	Jun.	Jul.	Aug.	Sep.	Oct.	Nov.	Dec.	Jan.	Feb.	Mar.
		1	2	3	4	5	6	7	9	10	11	12	13
1.	Deposit	3.6	2.5	2.3	1.5	1.3	0.8	2.9	1.7	1.6	1.1	2.5	7.8
2.	Purchase of immovable property	7.5	5.8	5.9	4.4	4.6	4.6	6.8	5.0	4.0	4.4	4.5	8.8
3.	Investment in equity/debt	22.2	21.6	18.2	17.6	17.5	15.6	24.8	15.3	16.9	19.4	26.5	50.3
4.	Gift	24.5	16.6	16.5	15.1	19.2	15.8	23.1	23.1	29.3	15.1	15.0	29.2
5.	Donations	0.5	0.1	0.2	0.1	0.4	0	0.3	0.3	0.1	0.2	0.3	1.1
6.	Travel	1.6	1.5	1.2	2.2	2.6	1.3	1.3	1.2	1.1	0.7	0.8	0.7
7.	Maintenance of close relatives	61.1	19.7	15.1	14.7	20.7	14.5	18.9	12.1	40.4	9.6	9.1	19.3
8.	Medical Treatment	0.8	0.6	0.7	0.7	0.5	0.4	0.3	0.6	0.6	0.04	0.3	0.2
9.	Studies Abroad	7.7	9.6	6.9	13.0	18.6	23.9	12.6	10.4	11.7	13.1	10.4	12.2
10.	Others **	11.7	12.2	10.1	7.6	9.5	7.3	8.3	12.0	14.0	10.1	7.9	17.9
	Total (1 to 10)	141.2	90.2	77.1	76.9	94.7	84.2	99.3	81.7	119.7	73.7	77.3	147.5

(US$ Million)
Purpose		2011-12
		Apr.	May	Jun.	Jul.	Aug.	Sep.	Oct.	Nov.
		1	2	3	4	5	6	7	8
1.	Deposit	3.3	2.6	2.3	0.9	1.1	1.4	0.6	1.2
2.	Purchase of immovable property	6.8	6.0	6.2	7.2	5.2	3.8	4.2	5.1
3.	Investment in equity/debt	26.2	21.4	16.3	19.0	20.1	18.2	13.8	12.6
4.	Gift	38.3	23.4	22.9	21.4	17.3	17.1	13.2	12.9
5.	Donations	–	0.2	0.9	0.3	0.1	0.3	0.4	0.1
6.	Travel	2.2	2.0	1.8	2.5	1.7	3.9	3.4	3.4
7.	Maintenance of close relatives	12.9	11.2	10.5	11.1	9.3	13.0	12.3	14.3
8.	Medical Treatment	0.2	0.4	0.2	0.02	0.3	0.6	0.3	0.2
9.	Studies Abroad	6.5	7.9	6.8	9.1	15.5	12.5	7.5	8.8
10.	Others **	7.0	8.5	6.3	6.7	8.3	8.4	9.4	6.8
	Total (1 to 10)	103.4	83.7	74.2	78.2	78.9	79.2	64.9	65.5

– Not available
** Include items such as subscription to journals, maintenance of investment abroad, student loan repayments, credit card payments etc. (till 2008-09 also includes education, travel, maintenance of close relatives and medical treatment).
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.