Describe the significance of remittance in India.

Solution

The significance of remittance in India is described below:
(i)A major benefit for the source region is the remittance sent by migrants. Remittances from the international migrants are one of the major sources of foreign exchange.
(ii)In 2002, India received US$ 11 billion as remittances from international migrants. Punjab, Kerala and Tamil Nadu receive very significant amount from their international migrants.
(iii)The amount of remittances sent by the internal migrants is very meagre as compared to international migrants, but it plays an important role in the growth of economy of the source area.
(iv)Remittances are mainly used for food, repayment of debts, treatment, marriages, children’s education, agricultural inputs, construction of houses, etc.

(v)For thousands of the poor villages of Bihar, Uttar Pradesh, Orissa, Andhra Pradesh, Himachal Pradesh, etc. remittance works as life blood for their economy.

Some More Questions From Migration - Types, Causes and Consequences Chapter

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Migration - Types, Causes And Consequences

Describe the significance of remittance in India.

Some More Questions From Migration - Types, Causes and Consequences Chapter

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