{"id":31439,"date":"2025-03-24T10:39:00","date_gmt":"2025-03-24T05:09:00","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=31439"},"modified":"2025-04-16T11:58:38","modified_gmt":"2025-04-16T06:28:38","slug":"indias-remittances","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/indias-remittances\/","title":{"rendered":"India\u2019s Remittances"},"content":{"rendered":"<h2>India\u2019s Remittances Latest News<\/h2>\n<p>Insights from the Sixth round of India\u2019s Remittances Survey 2023-24 by RBI shows that the US, UK, Singapore, Canada and Australia together accounted for more than half of remittances into India.\u00a0<\/p>\n<h2>About India\u2019s Remittances<\/h2>\n<ul>\n<li><strong>India <\/strong>has consistently <strong>received the highest remittance <\/strong>over the years, with the money doubling from $55.6 billion in 2010-11 to <strong>$118.7 billion in 2023-24.<\/strong><\/li>\n<li>The <strong>highest contribution<\/strong> came from the <strong>United States,<\/strong> accounting for <strong>27.7 percent <\/strong>of the total remittances.<\/li>\n<li><strong>UAE <\/strong>maintained its position as the <strong>second largest<\/strong> source of India&#8217;s remittances, with its share increasing from 18 percent in 2020-21 to <strong>19.2 per cent in 2023-24.<\/strong><\/li>\n<li><strong>Share of inward remittances from advanced economies<\/strong>, including the US and the UK, has risen, <strong>surpassing that of Gulf economies<\/strong> in 2023-24.<\/li>\n<li>The <strong>US and the UK together<\/strong> contributed to nearly <strong>40 percent <\/strong>of total remittances coming to India through banks in FY24.<\/li>\n<li>The <strong>GCC countries<\/strong>-the UAE, Saudi Arabia, Kuwait, Qatar, Oman, and Bahrain &#8211; contributed <strong>38 percent of the remittances.\u00a0<\/strong><\/li>\n<li><strong>At the national leve<\/strong>l, <strong>Kerala ranks second in terms of remittance inflows,<\/strong> following Maharashtra, which accounted for 20.5 percent of total remittances in 2023-24.\u00a0<\/li>\n<li>Tamil Nadu stands third with 10.4 per cent, followed by Telangana (8.1 percent) and Karnataka (7.7 per cent).\u00a0<\/li>\n<\/ul>\n<h2>India\u2019s Remittances FAQs<\/h2>\n<p><strong>Q1<\/strong>. How much remittances does India get?<\/p>\n<p><strong>Ans<\/strong>. India\u2019s remittances doubled from $55.6 billion in 2010-11 to $118.7 billion in 2023-24.<\/p>\n<p><strong>Q2<\/strong>. Which Indian state has the highest remittance?<\/p>\n<p><strong>Ans<\/strong>. Maharashtra emerged as the top recipient state, surpassing Kerala in the remittance landscape.<\/p>\n<p><strong>Q3<\/strong>. Which country contributed the highest share of remittances to India in 2023-24?<\/p>\n<p><strong>Ans<\/strong>. United States (US)<\/p>\n<p><strong>Source<\/strong>: <a href=\"https:\/\/www.business-standard.com\/economy\/news\/advanced-economies-overtake-gulf-nations-in-share-of-remittances-to-india-125032100650_1.html\" target=\"_blank\" rel=\"nofollow noopener\">BS<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>India\u2019s Remittances doubled from $55.6 billion in 2010-11 to $118.7 billion in 2023-24.<\/p>\n","protected":false},"author":5,"featured_media":31440,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-31439","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/31439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=31439"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/31439\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/31440"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=31439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=31439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=31439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}