In June 2024, Indians' total spending on external remittances dropped 44% year-on-year to $2.2 billion, with consistent declines noted across categories like travel and studies abroad. The tax collection at source on external remittances appears to be impacting Indians' spending patterns abroad. Travel-related remittances saw a decline from $1.5 billion to $1.3 billion compared to June 2023.
from Times of India https://ift.tt/xUAO4Q7
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