Page 3 - Remittances
India receives $69 bn in remittances from its diaspora, retains top spot
Kerala topped the share of remittances (40%) with the number of workers sending money to the state increasing in five years to 2014
 "India receives $69 bn in remittances from its diaspora, retains top spot")
India highest recipient of remittances at $69 billion, says World Bank
Global remittances are expected to grow 4.6 per cent to $642 billion in 2018 but longer-term risks to growth of remittances include stricter immigration policies
 "India highest recipient of remittances at $69 billion, says World Bank")
India receives $235 billion in remittances in three-and-half years
The volume of remittances in the first six months of the current fiscal was $30.43 billion
 "India receives $235 billion in remittances in three-and-half years")
Remittances to India to decline by 5% in 2016: World Bank
This is attributed mainly due to weak economic growth in remittances-source countries and cyclic low oil prices
 "Remittances to India to decline by 5% in 2016: World Bank")
Problems for NRIs remitting salary to India
Interest on NRE accounts is tax-free, but the I-T department creates hurdles to tax these accounts
As India reaps benefits of cheap oil, Gulf remittances take a toll
Low oil prices take a hit on Gulf's economy, forcing it to retrench Indian workforce, which have hit remittances
 "As India reaps benefits of cheap oil, Gulf remittances take a toll")
India world's largest recipient of remittances in 2015: World Bank
This despite a $1 bn drop in remittances from previous year
 "India world's largest recipient of remittances in 2015: World Bank")
India was the world's largest remittance recipient in 2015: World Bank
Attracts around $69 billion in remittances in 2015, ahead of China with remittances of $64 billion
