 "The funds sent under the Liberalised Remittance Scheme by resident individuals to study abroad rose to $278 mn in Sept from $160 mn a year ago.")
Migrant workers from India are on track to send home a record amount of money this year, boosting the finances of Asia’s third largest economy poised to retain its spot as the world’s top recipient of remittances.
Remittance flows to India will rise 12 per cent to reach $100 billion this year, according to a World Bank report published on Wednesday. That puts its inflows far ahead of countries including Mexico, China and the Philippines.
Highly-skilled Indian migrants living in wealthy nations such as the US, the UK and Singapore were sending more money home, the report said. Over the years, Indians
