In its Migration and Development Brief, the World Bank has said that India is expected to receive a record 100 billion dollar in remittance in 2022.
According to a World Health Organisation report, India is the top remittance recipient, with around 87 billion dollars received in 2021.
The RBI Remittances Survey, 2021 shows that the four leading countries -the US, the United Arab Emirates (UAE), the UK and Singapore account for as much as 54% of India’s remittance inflows.
Why is remittance to India so high this year?
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