World Bank : India highest recipient of remittances at $79 bn in 2018

[tacobell fan]

India retained its position as the world's top recipient of remittances with its diaspora sending a whopping USD 79 billion back home in 2018, the World Bank said in a report Monday. 

India was followed by China (USD 67 billion), Mexico (USD 36 billion), the Philippines (USD 34 billion), and Egypt (USD 29 billion), the global lender said. 

With this, India has retained its top spot on remittances, according to the latest edition of the World Bank's Migration and Development Br .. 
 

According to the report, remittances to low-and middle-income countries reached a record high of USD 529 billion in 2018, an increase of 9.6 per cent over the previous record high of USD 483 billion in 2017. 

Global remittances, which include flows to high-income countries, reached USD 689 billion in 2018, up from USD 633 billion in 2017, it said. 

The Bank said, remittances to South Asia grew 12 per cent to USD 131 billion in 2018, outpacing the six per cent growth in 2017. "The upsurge was driven by stronger economic conditions in the United States and a pick-up in oil prices, which had a positive impact on outward remittances from some GCC countries," it said. 

The Gulf Cooperation Council (GCC) is a regional inter-governmental political and economic bloc of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE. 
However, the Bank in its report rued that the global average cost of sending USD 200 remained high, at around seven per cent in the first quarter of 2019. 

Reducing remittance costs to three per cent by 2030 is a global target under Sustainable Development Goal (SDG) 10.7. Remittance costs across many African corridors and small islands in the Pacific remain above 10 per cent. 

On ways to lower remittance costs, Dilip Ratha, lead author of the Brief and head of KNOMAD, said, "Remittances are on track to become the largest source of external financing in developing countries. The high costs of money transfers reduce the benefits of migration. Renegotiating exclusive partnerships and letting new players operate through national post offices, banks, and telecommunications companies will increase competition and lower remittance prices." 
 
 

[kevinUsa]

5l cr 

ante 15-19%  annual expenditure 

[sboyr2r]

Thanks to Kevin 

[tacobell fan]

1 minute ago, kevinUsa said:

5l cr 

ante 15-19%  annual expenditure 

siggu leda

[sboyr2r]

2 minutes ago, tacobell fan said:

siggu leda

But why 

[Manikyam]

2 minutes ago, sboyr2r said:

Thanks to Kevin 

[LazyRohit]

.

[tacobell fan]

39 minutes ago, sboyr2r said:

But why 

vachina dabbu vachinattu India pamaniki

[Hitman]

1 hour ago, kevinUsa said:

5l cr 

ante 15-19%  annual expenditure 

ఇందులో ఎంత % really meant for supporting family needs ..ఎంత % for real estate ? the % going for real estate making others life difficulty ..

[tacobell fan]

10 minutes ago, Hitman said:

ఇందులో ఎంత % really meant for supporting family needs ..ఎంత % for real estate ? the % going for real estate making others life difficulty ..

adi ala adugu

[Katara]

Total manam top but population ratio mex anukunta

[LastManStanding]

Veetilo sagam land and houses ke poyi untundi India ki..Kerala tarvata AP undo TG undo mari..top list lo

[kevinUsa]

42 minutes ago, Hitman said:

ఇందులో ఎంత % really meant for supporting family needs ..ఎంత % for real estate ? the % going for real estate making others life difficulty ..

manchide kada  

I think its agreed to send money for realestate 

[tacobell fan]

14 minutes ago, kevinUsa said:

manchide kada  

I think its agreed to send money for realestate 

[Mitron]

1 hour ago, tacobell fan said:

vachina dabbu vachinattu India pamaniki

 

21 minutes ago, kevinUsa said:

manchide kada  

I think its agreed to send money for realestate 

75 datite inka ekkuva paisal INR lo convert cheste