Page 5 - Remittances
Remittances: Pain for India, China with Covid-19 striking across the world
The data reflects an overall increase in remittances in recent decades, from $126 billion in 2000 to $689 billion in 2018
 "Remittances: Pain for India, China with Covid-19 striking across the world")
Letter to BS: Govt should postpone Finance Bill provisions for NRIs
This will provide relief to the thousands of hard-working Indians who work abroad and remit their savings to the country every year
 "Letter to BS: Govt should postpone Finance Bill provisions for NRIs")
Letter to BS: Tax on remittances is absurd as the source is already taxed
On the one hand, the government wants to simplify tax rules, while on the other, it has introduced a measure that will complicate it
 "Letter to BS: Tax on remittances is absurd as the source is already taxed")
Budget proposal on remittances abroad triggers fears of double taxation
5% to be paid on already taxed income
 "Budget proposal on remittances abroad triggers fears of double taxation")
$118.3 bn received in remittances since 2018-19: Govt to Lok Sabha
According to the data received from Indian missions, there are an estimated 13.62 million Indians abroad
 "$118.3 bn received in remittances since 2018-19: Govt to Lok Sabha")
India to retain top position in remittances with $80 bn: World Bank
The Bank estimates that officially-recorded remittances to developing countries will increase by 10.8 per cent to reach $528 billion in 2018
 "India to retain top position in remittances with $80 bn: World Bank")
Rupee slump may boost remittances to a record high of $76 billion in 2018
A global emerging-market sell-off that's triggered outflows from Indian bonds and stocks saw the rupee setting a string of fresh lows earlier this month
 "Rupee slump may boost remittances to a record high of $76 billion in 2018")
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 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 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