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Indians are on front of all in money remittance to India from abroad

Indians are on front of all in money remittance to India from abroad

Indians are forefront of all in sending money from foreign to their own country.

According to World Bank’s report, Indians send 80 billions dollars to India. China is the last to India. Its citizens sent 67 billion dollars.

Following India and China, Mexico with 34 billion dollars, Phillipines with 34 billion dollars and Egypt with 26 billion dollars are in the series.

According to the recent version of ‘Migration and Remittance’, report of World Bank, Indians are on the front of all in purpose of Money Remittance.

Bank in its prediction told that money remitted officially to developing countries has been increased to a record level of 528 billion dollars by 10.8 percent ,in 2018.

Last years a growth of 7.8 percent is recorded. The money sent to countries around the world is expected to increase by 10.3 percent to $ 689 billion.

It has been said in report that in the last 3 years, a noticeable growth in sending money to India from abroad is seen. It has been enhanced to 65.3 billion dollars in 2017 from 62.7 billion dollars in 2016. There was a share of 2.7 percent in GDP of money sent from abroad in 2017.

World Bank said that in the developed countries, especially in the United States, strengthening of economic conditions and increase in oil prices has increased the amount of remittances with positive effect on withdrawal from Gulf Coorperation Council countries like United Arab Emirates. Growth of 13 percent is seen by withdrawal from Emirates in the first half of 2018.

The World Bank said that increase of 17.9 and 6.2 percent is recorded in money remittance by migrants of Pakistan and Bangladesh, respectively.

Q.1 Which country has highest money remittance from abroad?
A. Mexico
B. India
C. Pakistan
D. Phillipines
Ans: India

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