The government and the central bank have over months and years systematically tightened restrictions on how Indians can remit money overseas. The Liberalised Remittance Scheme, or LRS, is one of the signature achievements of the post-1991 reforms. By allowing individuals to send money out of the country up to an amount of $250,000 a calendar year (at current levels), it revealed a degree of confidence in the Indian economy’s strength as well as in the rupee’s float and the sustainability of the country’s external account. Countries that are nervous about outflows and possible crises do not allow their citizens to send money out for investment or travel. Restrictions on remittances tend to be seen globally as a sign of insecurity among policymakers about the direction of the economy — which is, for example, the lesson that was taken by many after the Chinese government cracked down on individual remittances some years ago. When the yearly LRS cap was lowe