Washington sources reported that as per a statement "Remittance inflows improved in all regions and the top remittance recipients were India with $69 billion, followed by China ($64 billion), the Philippines ($33 billion), Mexico ($31 billion), Nigeria ($22 billion), and Egypt ($20 billion)". Meanwhile the remittances to India rose sharply by 9.9% in 2017, reversing the previous year’s sharp decline.
Media reports global remittances are expected grow 4.6% to $642 billion in 2018. As per the World Bank's latest Migration and Development brief the remittances to low and middle-income countries rebounded to a record level in 2017 after two consecutive years of decline.
Dilip Ratha, lead economist at the World Bank in
his blog said “The overall recovery in remittances is better than we expected.
It is driven by stronger growth in the European Union, the Russian Federation,
and the United States. Moreover the rebound in remittances, when valued in US
dollars, was helped by higher oil prices and a strengthening of the euro and
BJP made scrapping of Article 370 its main talking point in assembly elections in Haryana & Maharashtra Sources from Pune stated that Prime Minister Narendra Modi, who was addressing a rally in poll bound Maharashtra's Pune district on Thursday, made a surprising gesture to his audience while speaking on his government's recent decision to scrap Article 370, which granted special status to Jammu and Kashmir. Meanwhile as the crowd cheered for him, he halted his speech, stepped aside from the dais and bowed before the public twice.
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