Why are Indians splurging on foreign trips when the dollar is getting costlier?

During the five months from April to August, individual remittances from India totalled $5.6 billion, which is 25 percent greater than the amount sent during the same period last year.
Indians had sent $4.49 billion during April to August 2017 using the so-called Liberalised Remittance Scheme (LRS) that allows people to spend up to $250,000 overseas in a year through legitimate financial instruments.

If the rupee’s slide persists, is it going to be a throwback to 2013, with a fresh set of controls on individual foreign spending under the RBI’s liberalised remittance scheme? (I believe it will)


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