India Witness 30% Rise In Foreign Exchange In May

India has spotted a prodigious 30% rise in foreign exchange earnings from the tourism sector in the month of May. There has been a 19% increase in tourist visits compared to the same period in the last two years. Foreign Exchange Earnings(FEEs) during May 2017 were RS.12,403 crore as compared to RS. 10,260 crore in May 2016 nad Rs. 9,505 crore in May 2015 as per RBI’s credit data of Travel head from Balance Of Payments. The growth in FEEs in May 2017 over May 2016 was 20.9%, compared to a growth of 7.9% in May 2016 over May 2015. The FEEs during Jan-May 2016 was 62,072 with 14% increase from Jan-May 2015 and with the growth of 19.2% Jan-May 2017, the amount totalled 74,008 crore. The Foreign Tourists Arrivals (FTAs) in May 2015 was 5.09 lakhs and in May 2016, FTA was 5.27 lakhs with an increase of 3.5%, India has witnessed immense growth in May 2017 by 19.5% with 6.30 lakhs. Government’s “e-visa” facility launched in November 2014 has led to a growth in tourists arrivals to the country. Under “E-Tourists Visa”, a foreign tourist can pay his visa fee online by uploading his passport and photograph. Electronic travel authorisation or e-visa will be sent through mail on approval of applications after being processed by the authorities within 72 hours.
Kranthi Tilak Reddy
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India Witness 30% Rise In Foreign Exchange In May

Kranthi Tilak Reddy
Blog
26th Jun, 2017
India Witness 30% Rise In Foreign Exchange In May

India has spotted a prodigious 30% rise in foreign exchange earnings from the tourism sector in the month of May. There has been a 19% increase in tourist visits compared to the same period in the last two years.

Foreign Exchange Earnings(FEEs) during May 2017 were RS.12,403 crore as compared to RS. 10,260 crore in May 2016 nad Rs. 9,505 crore in May 2015 as per RBI’s credit data of Travel head from Balance Of Payments.

The growth in FEEs in May 2017 over May 2016 was 20.9%, compared to a growth of 7.9% in May 2016 over May 2015. The FEEs during Jan-May 2016 was 62,072 with 14% increase from Jan-May 2015 and with the growth of 19.2% Jan-May 2017, the amount totalled 74,008 crore.

The Foreign Tourists Arrivals (FTAs) in May 2015 was 5.09 lakhs and in May 2016, FTA was 5.27 lakhs with an increase of 3.5%, India has witnessed immense growth in May 2017 by 19.5% with 6.30 lakhs.

Government’s “e-visa” facility launched in November 2014 has led to a growth in tourists arrivals to the country. Under “E-Tourists Visa”, a foreign tourist can pay his visa fee online by uploading his passport and photograph. Electronic travel authorisation or e-visa will be sent through mail on approval of applications after being processed by the authorities within 72 hours.

Kranthi
Blog Author

Kranthi Tilak Reddy is one of the co founders and COO of White Matter Advisory services P Ltd. He is an Engineering graduate from SRM University and has done his Masters in finance.Being a true go-getter and an optimist to the core he has grown up the ranks in banking industry at an astonishing rate, his last stint being Associate Director, Business Clients -South with Standard Chartered Bank. With over 10 years of association with SME businesses and clients he certainly brings rich vein of expertise to the WMA table but more importantly his alluring passion towards great and customer service” the foundation on which he asserts WMA has been built.

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