Washington: India, the largest remittance recipient in the world, received $ 87 billion in 2021 with the United States as the biggest source, counted more than 20 percent of these funds, according to the World Bank.
India was attended by China, Mexico, the Philippines, and Egypt, Washington-based global lenders said in his report was released on Wednesday.
In India, the shipping of money is projected to grow three percent in 2022 to $ 89.6 billion, reflecting a decrease in overall migrant stock, as a large proportion that returns from Arab countries waiting for back, he said.
“The current to India (the largest remittance recipient in the world) is expected to reach $ 87 billion, an increase of 4.6 percent – with the severity of Covid-19 Kaseload and death during the second quarter (far above the global average) that stands out the role in drawing Altruistic flow (including the purchase of oxygen tank) to this country, “said the World Bank report.
Delivery of money to low-income countries is projected to have grown 7.3 percent strongly to reach $ 589 billion in 2021, said the bank.
Returning to this growth is stronger than estimating before and following flow resistance in 2020 when shipping money was only 1.7 percent despite a severe global recession because of Covid-19, according to estimates of the World Bank Migration and Development Brief.
“The flow of delivery from migrants has greatly completed the government cash transfer program to support families suffering from economic difficulties during the Covid-19 crisis.” Facilitating the flow of remittances to provide assistance to a tense household budget must be the main component of government policies to support globally.
Recovery from a pandemic, “said Michal Rutkowski, the global director of the World Bank for social protection and work.
India has received more than $ 83 billion in delivery in 2020.