The share of remittance from the US, UK and Singapore, increased largely due to the higher number of Indian-origin white-collared workers
Remittances from the Gulf region went down in FY21 in comparison to FY17. The share of remittance from the US, UK and Singapore, increased largely due to the higher number of Indian-origin white-collared workers.
According to data, the Covid pandemic changed the dominance of Indian states which were usually considered the biggest recipients of remittances, reported The Hindu. In FY21, Kerala, which was at the top of the recipient list in FY17, recorded a fall in remittances.
Financial distress among the remitters was also witnessed as there was an increase in transactions of smaller denominations in 2020-21 compared to 2016-17
It was replaced by Maharashtra as the top recipient. Karnataka recorded a decline, while Delhi and Tamil Nadu gained remittances.
Financial distress among the remitters was also witnessed as there was an increase in transactions of smaller denominations in 2020-21 compared to 2016-17.
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