New Delhi: The World Bank has said that due to the corona virus epidemic, remittances to India this year are expected to fall by 23 per cent to $ 64 billion, from $ 83 billion last year.
The World Bank released a report on Wednesday and said, "The amount of remittances from abroad in India is expected to fall by about 23 per cent to US $ 64 billion during 2020, compared to US $ 83 billion during 2019". This report is regarding the effect of Covid-19 on migration and remittances.
The report said that due to the Covid-19 pandemic and its lockdown, it is estimated that there will be a 20 per cent decrease in remittances across the world this year. According to the report, this decline is the highest in recent history and will be largely due to reduction in salary and employment of migrant workers.
World Bank Group President David Malpas said that remittances from abroad are a major source of income for developing countries, while the continued economic slowdown due to Covid-19 has affected the ability of migrant laborers to send money home.
He said that remittance from abroad helps those families to meet their food, health care and basic needs. In such a situation, the World Bank Group is working to keep the remittance channels open and to meet the basic requirements related to it.
The World Bank estimates that Pakistan will see a decline of about 23 per cent in money received from abroad, while there may be a decrease of 22 per cent in Bangladesh, 14 per cent in Nepal and 19 per cent in Sri Lanka.
Understand remittance- When overseas Indians working abroad send back some amount of their earning money to their country of origin, it is called remittance. Through remittance, there is a big impact on the economy of countries. This helps the economies to gain foreign exchange and a good impact on the economy is seen in the rise in foreign exchange reserves of the countries.
After the data was stolen from the server, the pharmaceutical company Dr. Reddy's Laboratories ha
PM Narendra Modi has said that in this era of global instability, India has established itself as
Ajit Pawar's rebellion in Maharashtra has disturbed the political equations of the opposition. Wh
Ranchi / Dhanbad / Jamshedpur. A decision on the opening of clothing and footwear shops and salon
Struggling actors and actresses are often cheated in the name of films. Many times people are imp
Due to poor fielding in the last over, Team India lost the first ODI against Bangladesh by one wi
Telangana minister has apologized for linking KTR to Samantha-Naga's divorce. He said that he is
Shanghai, the financial capital of China, is also becoming the corona capital of the country. On
A case of vandalism has come to light in a church in Punjab's Tarn Taran city. Four accused enter
On Friday, the Group-1 match of Super-12 between Australia and England was washed out due to rain
