Thank you NRIs! India retains top position in remittances with $80 billion

Agencies
December 8, 2018

Washington, Dec 8: India will retain its position as the world's top recipient of remittances this year with its diaspora sending a whopping $80 billion back home, the World Bank said in a report on Saturday.

India is followed by China ($67 billion), Mexico and the Philippines ($34 billion each) and Egypt ($26 billion), according to the global lender.

With this, India has retained its top spot on remittances, according to the latest edition of the World Bank's Migration and Development Brief.

The bank estimates that officially-recorded remittances to developing countries will increase by 10.8 per cent to reach $528 billion in 2018. This new record level follows a robust growth of 7.8 per cent in 2017.

Global remittances, which include flows to high-income countries, are projected to grow by 10.3 per cent to $689 billion, it said.

Over the last three years, India has registered a significant flow of remittances from $62.7 billion in 2016 to $65.3 billion 2017. In 2017, remittances constituted 2.7 per cent of India's GDP, it said.

The bank said remittances to South Asia are projected to increase by 13.5 per cent to $132 billion in 2018, a stronger pace than the 5.7 per cent growth seen in 2017.

The upsurge is driven by stronger economic conditions in advanced economies, particularly the US, and the increase in oil prices having a positive impact on outflows from some GCC countries such as the UAE which reported a 13 per cent growth in outflows for the first half of 2018.

Bangladesh and Pakistan both experienced strong upticks of 17.9 per cent and 6.2 per cent in 2018, respectively, the Bank said.

For 2019, it is projected that remittances growth for the region will slow to 4.3 per cent due to a moderation of growth in advanced economies, lower migration to the GCC and the benefits from the oil price spurt dissipating.

The Gulf Cooperation Council (GCC) is a regional inter-governmental political and economic bloc of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE.

As global growth is projected to moderate, future remittances to low- and middle-income countries are expected to grow moderately by four per cent to reach USD 549 billion in 2019. Global remittances are expected to grow 3.7 per cent to $715 billion in 2019.

The brief notes that the global average cost of sending $200 remains high at 6.9 per cent in the third quarter of 2018. Reducing remittance flows to three per cent by 2030 is a global target under Sustainable Development Goal (SDG) 10.7.

Increasing the volume of remittances is also a global goal under the proposals for raising financing for the SDGs, it said.

"Even with technological advances, remittances fees remain too high, double the SDG target of 3 per cent. Opening up markets to competition and promoting the use of low-cost technologies will ease the burden on poorer customers," said Mahmoud Mohieldin, Senior Vice President for the 2030 Development Agenda, United Nations Relations, and Partnerships at the Bank.

The average cost of remitting in South Asia was the lowest at 5.4 per cent, while Sub-Saharan Africa continued to have the highest at 9 per cent.

No solutions are yet in sight for practices that drive up costs, such as de-risking action of banks, which lead to closure of bank accounts of remittance service providers.

Another persistent factor that keeps fees high is the exclusive partnership between national post office systems and any single money transfer operator, as it allows the operator to charge higher fees to poorer customers dependent on post offices, the bank said.

"The future growth of remittances is vulnerable to lower oil prices, restrictive migration policies, and an overall moderation of economic growth.

"Remittances have a direct impact on alleviating poverty for many households, and the World Bank is well positioned to work with countries to facilitate remittance flows," said Michal Rutkowski, senior director of the social protection and jobs global practice at the World Bank.

Comments

NRI s saving Modi by not allowing GDP to fall in its worst level. Modi looting all our money for staues and Rich thieves.

Arif
 - 
Saturday, 8 Dec 2018

Proud to be a NRI. Thanks to Arab countries for saving many Indians

Hindu Rashtra …
 - 
Saturday, 8 Dec 2018

Modiji Ki Jai.. Haters wont accept Modiji's efforts. We dont care haters. He is the best PM. True dedicated humble hon. PM.

Mohan
 - 
Saturday, 8 Dec 2018

Great.. Should not show to MODI. He may cry by telling you people ignored our soldiers

Vinod
 - 
Saturday, 8 Dec 2018

Kerala economy depending NRI. They are the main contributors. Then tourism

Suresh
 - 
Saturday, 8 Dec 2018

NRIs are rocking always. They are the saviours of indian economy

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News Network
July 12,2020

Tumakuru, Jul 12: A four-year-old boy was killed by a leopard at Rajendrapur hamlet at Hasige Hobli village near Huliyurdurga in Kunigal taluk.

Police said on Sunday that this was the third such attack by big cats in the district in a span of six months.

Forest officials said that the boy had gone with his mother to wash clothes at a tank and the animal attacked him while playing there on Saturday late evening. 

A passerby who witnessed the incident scared the animal, it escaped leaving the boy’s body behind.

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Ram Puniyani
February 13,2020

Forthcoming Census and RSS campaign

Currently massive protests are going on against NPR, NCR and CAA. At the same time we are going to begin the process of decadal census in 2021. Already RSS is active in promoting NPR, NCR and CAA. At the same time RSS wants that Adivasis should register themselves as Hindus rather than ticking the column of ‘Others’. As per their spokesperson in the 2011 census many Adivasis groups ticked that column because of which the population of Hindus came down to by 0.7 percent point to come down to 79.8 %. This has sent signals to this Hindu nationalist organization and is planning to ensures that Adivasis tick the column of Hindus in this census.

As such RSS has a very clever attitude in defining the term Hindu. The first formulation was by Savakakar who said that all those who regard the land east of Indus as their Holy land and Father land are Hindus. This left out Muslims and Christians, and brought all others in the ambit of Hindu fold. From the decade of 1980s due to electoral compulsions they have been trying to articulate that all those who are living in India are Hindus. Murli Manohar Joshi stated that Muslims are Ahmadiya Hindus and Christians are Christi Hindus. Recently there was a controversy when they restated that Sikhs are not a separate religion but are a sect of Hinduism. Many Sikh organizations stood up to say that Sikhism is a religion by itself and recalled the book of Kahan Singh Nabha, “Hum Hindu Nahin”

As far as Adivasis are concerned in contrast to what is being planned by Hindu nationalist RSS, many Adivasis groups have been meeting from last couple of years to demand just the contrary. As per them there should be a column where they can tick their identity of Adivasis.  There are active campaigns among Adivasis groups to uphold their Adivasi identity in Census. As per them in the first census which was conducted in Independent India, the column, Aborigines, was there, which was later removed forcing them to club themselves with other religions.

After 1951 in addition to Hindu, Muslim, Sikh, Christian, Jain and Buddha, the column ‘others’ was also there which was removed in 2011. Even during British period if you look at the censuses of the British era (from 1871 to 1931); there was provision for tribes to choose Aborigine as an option. There are nearly 83 religious practices being followed by Adivasis. Few major of these are Sarna, Gondi, Punem, Adi, and Koya. What they share in common is that they are animists, worship nature and spirit of ancestors; do not have priestly class or Holy Scriptures and Gods and Goddesses characteristic of the broad Hindu pantheon.

RSS as per its political agenda of Hindu Nation regards them as Vanvasi. They pontificate that they have been part of Hindu society who were driven away to forests to escape the forcible conversion being done by the Muslim invaders. This concoction is contrary to the interpretations based on the studies from population genetics. The Hindu nationalist argues that Aryans have been the original inhabitants of the country from where they spread to other parts of the World. The book by Tony Joseph, ‘Early Indians’ tells us that away from the race theory, we are all mixed up. The first inhabitants in our land were the ones who emigrated from South Asia over Sixty thousand years ago.

The Indo-Aryans came here nearly three thousand years ago and they pushed the aborigines to the forests and hills and that’s what constitutes the Adivasi community of India.

Hindu Nationalists like all the nationalists who construct their nationalism around their religion claim to be the most original inhabitants of the land, and their interpretations of past are molded according to that. RSS right from beginning has not been using the word Adivasi, it calls them Vanvasi. As per its agenda it wants them to be part of Hindu fold, despite Adivasis themselves saying that they are not Hindus, they have beliefs and practices which are far away from Hinduism in whatever form.

To enhance its political reach from the decades of 1980s in particular its work in Adivasis areas has been intensified. While ‘Vanvasis Kalyan Ashram’, part of RSS Combine which was formed much earlier, it was in the decades of 1980s that their work was jacked up by sending more Pracharaks in Adivasi areas. We see that in Gujarat, Dangs and nearby area, Swami Aseemanand, in MP, centered around Jhabua-the followers of Asaram Bapu and in Orissa Swami Laxmananad stationed them. They saw Christian missionaries working in the field of education and health as an obstacle to Hinduization of Adivasis. Their propaganda against Christian missionaries led to the ghastly murder of Pastor Graham Stains. It was this propaganda which led to anti Christian violence in various forms, the most horrific being the Kandhamal violence of 2008.

In order to culturally co-opt them into the fold of Hinduism they began series of religious congregations, Kumbhs. Shabri Kumbh in Dangs and many other Adivasis predominant areas created an atmosphere of fear, Adivasis were asked to be part of it, saffron flags were distributed and they were made to put it in their houses. Two religious icons were popularized in these areas, one was Shabri and other was Hanuman. To cap it all, Ekal Vidyalayas, started spreading RSS’s interpretation of history in these areas. The other angle of the whole thing is that Adivasis are living in the areas rich in minerals, which the BJP supporter Corporate World wants to take over.

World over aborigines have similar pattern. They are animists and what they practice is a culture as such. Many have converted to other religions out of their choice for sure, but finally in these matters what is important is the self perception. Hemant Soren the Chief Minister of Jharkhand pointed out that “Adivasis are not Hindus. ”Keeping that in mind; the column of Aborigines needs to find its place in our census forms.

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News Network
February 9,2020

Bengaluru, Feb 9: A man in Karnataka fled just before his wedding after his parents cancelled the ceremony over a disagreement about the saree that the bride wore duiring a ritual.

BN Raghukumar, who belonged to a village near Karnataka's Hassan town, did not to show up at his wedding, acting on the directions of his parents. The incident took place on Wednesday.

"We have registered a cheating case against Raghukumar. He is absconding," Hassan Superintendent of Police Srinivas Gowda told news agency. The police have also registered a case against the groom's parents.

Raghukumar and BR Sangeetha fell in love a year ago and decided to get married with the consent of their respective families.

However, Raghukumar's parents asked Sangeetha to change her saree during some rituals as they were not happy with its quality.

Following this dispute, the groom's parents cancelled the wedding scheduled on Thursday and directed their son to run away.

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