₹29,000 crore: CA breaks down how overseas training quietly drains Indian households
The price of training is quick turning into one of many steepest drains on Indian household funds — at house and overseas.
In a put up on X (previously Twitter), Kaushik identified the spike in overseas training spending: “From ₹2,400 crore to ₹29,000 crore — The Nice Training Cash Drain.” In 2013-14, Indian households spent ₹2,429 crore to ship their kids abroad for larger research. A decade later, in 2023-24, that quantity ballooned to ₹29,000 crore — a 12× soar.
However the true sting lies within the hidden expenses. In 2024 alone, Indian households misplaced over ₹1,700 crore to banking charges and forex conversion markups — cash shaved off earlier than reaching the coed. “That’s cash which may have paid for months of hire, additional programs, or perhaps a semester’s tuition — gone earlier than it reached the coed,” Kaushik famous.
He attributes the surge to 3 essential drivers:
- A pointy rise in college students heading overseas for levels.
- Steep hikes in tuition and dwelling prices abroad.
- Excessive financial institution expenses on cross-border transfers.
The ache isn’t restricted to overseas levels. Again house, high quality non-public education typically comes with steep charges for tuition, books, uniforms, transport, and actions — more and more out of attain for the center class. In larger training, skilled programs in drugs, engineering, and administration value lakhs, forcing many into long-term loans. Even public faculties include their very own price ticket by way of housing and every day bills.
This rising monetary pressure is deepening the divide — making training a privilege for individuals who can afford it, whereas leaving the remaining scrambling to maintain up.
Till smarter, low-cost cost programs exchange the present setup, dad and mom sending kids overseas will proceed paying a silent, avoidable tax.
