WORLD BANK REPORT ON REMITTANCE:

     WORLD BANK REPORT ON REMITTANCE     

CONTEXT:- 

World Bank had released it migration and development brief in April 2019.

INDIA SPECIFIC:-

# India is positioned as the world top recipient of remittance with its dispora sending USD 79 billion back home in 2018 and USD 85 billion back to home in 2019.

# The remittance in 2018 grew by over 14% in India.

# India managed to retain it top spot in remittance by registering a significant flow of remittance form USD 62.7 billion in 2016 to USD 65.3 billion in 2017 , and USD 79 billion in 2018 to USD 85 billion in2019 a significant growth over the last four year.

# Natural disaster like Kerala floods likely boosted the financial help that migrants sent to their families ,and like this types of reason bost the remittance of the country.

OTHER FINDINGS:-

# Remittance to high-income countries , reached USD 689 billion in 2018 up from USD 633 billion in 2017.

# The officially recorded annual Remittance flows to low-and middle-income countries reached USD 529 billion in 2018 and increases of 9.6% over the previous record high of USD 483 billion in 2017.

# The overall increases was driven by a stronger economy and employment situation in the United States and a rebound in outward flows from some gulf cooperation council (GCC) countries and the Russian federation.

ABOUT REPORT:- 

# This is prepared by the migration and remittance unit, development Economics (DEC) - the premier research and data arm of the world Bank.

# The aims is to provide an update on key developments in the area of migration and remittance flows and related policies over the part six months.

# It also provide medium-term projection of remittance flows to developing countries.

# The brief is produced twice a year.