India received $70 bn in remittances in 2012

[veekysingh]

india received $70 billion in remittances in the year 2012 , Government told Rajya Sabha on Thursday.

Overseas Indian Affairs Minister Vayalar Ravi gave the figure quoting a World Bank report. He was replying to a question on the issue.

India had received over $66.13 billion in remittances in the year 2011-12 while in 2010-11, the amount was $55.62 billion.

The remittances to the country through private transfer of funds have been on the rise in the last few years.

India received $53.63 billion in 2009-10 while in 2008-09, the amount was $46.9 billion.

 

[neehar]

ofcourse india stands frst in recieving private remittances " Remittances to India this year are likely to increase to $70 billion, the highest in the world, followed by $66 billion to China, the World Bank said in a report
Wednesday."
this is the reason our gdp continues to grow inspite of the trade deficits and loan interests


India to receive $70 billion remittance in 2012: World Bank - Yahoo! News India

 

[Viet]

Wow, that´s a lot of $$$$$

 

[Cherokee]

Remittances has nearly increased to double in past 5 or 6 years . Impressive .

 

[RoYaL~GuJJaR]

Awesome News

 

[Rocky25]

Overseas Indians are one leg of a Chair called India! Wish it should increase several folds! India should do business with ALL countries and expand its exports and stop export of Raw materials like iron ore!

 

[Srinivas]

How much amount of those 70 Billion are true remittances and not black money converted to white through this gate way

 

[veekysingh]

How much amount of those 70 Billion are true remittances and not black money converted to white through this gate way

you will never know.

 

[anilindia]

How much amount of those 70 Billion are true remittances and not black money converted to white through this gate way

Whatever it is. Remittance is comming. Thanks to all NRI.

 

[KRAIT]

We need NRIs to play more active role in India. Our govt.s should attract these NRIs to start investing in India even more.

 

[scorpionx]

How much amount of those 70 Billion are true remittances and not black money converted to white through this gate way

If black money is invested in infrastructure,it's good.

 

[Kaniska]

Govt should make a scheme so that Black money to be converted to white money...with no issues ...but they will not paid with any intrest...Win win for any both parties..

 

[jha]

It should cross $100 Bill. by 2020... Good going NRIs....

 

[KRAIT]

It should cross $100 Bill. by 2020... Good going NRIs....

Not by 2020. 2015 or 2017.

 

[Star Wars]

ALl Your MOnies belongs to US !!