LRS Concession Extended
Summary
- The Liberalised Remittance Scheme (LRS) concession has been extended.
- LRS allows residents to remit funds outside India for specific purposes.
- The extension is expected to support resident individuals in making foreign remittances.
Key Facts
- · Liberalised Remittance Scheme (LRS)
- · Extension of LRS concession
- · Purpose of LRS: to allow resident individuals to remit funds outside India
Why it matters
The extension of LRS concession is significant as it facilitates resident individuals in making foreign remittances, thereby promoting economic growth and international trade.
#LRS#Liberalised Remittance Scheme#Foreign Remittances#Economic Growth#International Trade