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India's outward remittance surges to record $18.34 billion in FY24 under LRS

India's outward remittance surges to record $18.34 billion in FY24 under LRS
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'Best of both worlds' – economists give thumbs-up to CPI, IIP data

While headline retail inflation fell more than expected to 5.02 percent in September, industrial growth jumped to a 14-month high of 10.3 percent in August, data released on October 12 showed ....

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Retail inflation drops to 5.02% in September, lowest in 3 months

Consumer Price Index inflation has now fallen by a massive 242 basis points from July s 15-month high of 7.44 percent ....

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CPI inflation may have hit 3-month low of 5.4% in September

The statistics ministry will release Consumer Price Index data for September and industrial production data for August on October 12, with the latter expected to have surged to 9.1 percent ....

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Outward remittances under RBI's LRS rise 50% to $9.1 billion in Q1

Outward remittances under the Reserve Bank of India s (RBI s) liberalised remittance scheme (LRS) surged by 50.64 per cent to $9.1 billion in the April-June quarter (first quarter, or Q1) of 2023-24 (FY24), driven by healthy growth across segments due to a revision in the timeline of tax collected at source under the LRS scheme and normalisation in international travel.

Major drivers include equity and debt investments, deposits, and the international travel segment, among others.

According to the latest RBI data, the amount remitted under LRS stood at $9.1 billion in Q1FY24, compared with $6.05 billion in the same quarter last year. ....

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