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A new study has revealed that about 77 percent Indians think that remittances from foreign countries have reduced economic problems of their household and about 63 percent feel that they have improved their lifestyle significantly.
Almost 63 percent agreed that remittances have led to better schooling and higher education in terms of computer education (59 percent) and plan for higher education (57percent).
Fifty percent of the respondents agreed that the remittances have helped in increased savings and investments.
The study showed that the top three reasons that remittances are used for are: to meet daily needs (72 percent), pay medical expenses (62 percent) and provide an education (58 percent).
The average annual remittance in India per family is 2,30,000 rupees.
The study was conducted by Western Union.
