Description

The Government of India has approved the extension of the Immigration Visa Foreigners Registration Tracking (IVFRT) plan for another five years, till March 31, 2026, with a budgetary outlay of Rs 1,364.88 crore.

Overview

The goal of this system is to optimise and connect functions linked to visa issuing, immigration, foreigner registration, and tracking their movements in the country. The continuance of the plan demonstrates the government's commitment to the IVFRT's primary aim of enhancing and modernising visa and immigration services.

Concerning Immigration Visas Scheme for Tracking Foreigners Registration

IVFRT has a global reach and aims to optimise and connect functions related to visa issuance, immigration, foreigner registration, and movement tracking in India by involving 192 Indian missions worldwide, 12 Foreigners Regional Registration Officers and offices, 108 Immigration Check Posts in India, and over 700 Foreigners Registration Officers, Deputy Commissioners of Police, and Superintendents of Police throughout the country.

Following the introduction of the IVFRT, the number of visas and Overseas Citizens of India cards granted climbed at a 7.7 percent CAGR from 44.43 lakh in 2014 to 64.59 lakh in 2019.

During the pre-IVFRT period, the typical visa processing time was 15 to 30 days, but that has since been lowered to a maximum of 72 hours, with 95 percent of e-visas being given within 24 hours. Foreign traffic to and from India has climbed at a CAGR of 7.2 percent over the previous decade, from 3.71 crores to 7.5 crores.

What is the Compound Annual Growth Rate (CAGR)?

CAGR is the average annual growth rate of an investment over a period of more than one year. It is one of the most precise approaches for calculating and assessing returns on investment portfolios, individual assets, and anything else with the potential to gain or decrease in value over time.

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