REMITTANCES FROM ABROAD KEEPS INDIA FLOATING !


A report from World Bank has stated that whopping $70 billion remittances made in the year 2013, to the Indian exchequer, of which $65 billion were earned from the country’s flagship software services exports.
“Remittances have become a major component of the balance of payments of nations. India led the chart of remittance flows, receiving $ 70 billion last year” said Kaushik Basu, Senior Vice President and Chief Economist of the World Bank.