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Remittance in India in 2020-21
July 23 , 2022
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- The RBI conducted the fifth round of the survey on remittances for the year 2020-21.
- The share of India’s inward remittances from Gulf countries declined from more than 50% in 2016-17 to about 30% in 2020-21.
- Remittances from the US have surpassed that of UAE.
- The USA accounting for 23% of total remittances in 2020-21.
- Remittances from UAE now account for 17-18% of India’s total inward remittances.
- The share of the traditional remittance recipient states of Kerala, Tamil Nadu and Karnataka, has almost halved in 2020-21.
- They accounting for only 25% of total remittances compared to over 42% in 2016-17.
- Maharashtra has emerged as the top recipient state surpassing Kerala.
- The report shows Maharashtra now accounts for almost 35% of the total remittances in 2020-21.
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