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Impact of Remittances on Poverty in India: Empirical Evidence

In: Human Capital and Development

Author

Listed:
  • Rashmi Banga

    (Unit of Economic Cooperation and Integration Among Developing Countries, UNCTAD)

  • Pritish Kumar Sahu

    (Multimedia University)

Abstract

Remittances have been an important source of external funding for India. The span of Indian diaspora stretches across the globe in all continents. The Ministry of Overseas Indian Affairs has registered the presence of non-resident Indians (NRIs) in 180 of the 183 countries of the world. The numbers have varied from just two in Lebanon to almost a million in the USA. Estimated at over 30 million, India ranks second to Chinese diaspora. The growing number of migrants from India has added to the remittance inflow over the years. Data in this regard reveals that, even though the remittance flows to the Indian economy during the 1980s remained more or less stable, the postreform period from 1991 onwards has experienced a significant increase in remittances. There has been an annual average trend growth of 16 % during the period 1990 to 2008. In 2008, after the outbreak of economic crisis, India reported 34 % growth over 2007.

Suggested Citation

  • Rashmi Banga & Pritish Kumar Sahu, 2013. "Impact of Remittances on Poverty in India: Empirical Evidence," Springer Books, in: Natteri Siddharthan & Krishnan Narayanan (ed.), Human Capital and Development, edition 2, chapter 0, pages 77-101, Springer.
    • Handle: RePEc:spr:sprchp:978-81-322-0857-0_6
    DOI: 10.1007/978-81-322-0857-0_6
    as

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