Big drop: Remittances sent by Indians abroad fall by $8.5 bn between 2014-15 and 2016-17

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Published: April 4, 2018 6:46:14 PM

Remittances sent into the country by Indians abroad dropped by USD 8.53 billion between 2014-15 and 2016-17, the government today informed Lok Sabha.

Remittances, Remittances indian, external affairs, new Remittances, new rates, us india tradeThere are 667 officers and 1,251 support staff in Indian missions and posts, he added. (Reuters)

Remittances sent into the country by Indians abroad dropped by USD 8.53 billion between 2014-15 and 2016-17, the government today informed Lok Sabha. In a written response to a question, V K Singh, minister of state in the External Affairs Ministry, said in 2014-15, Indians abroad had sent USD 69.82 billion. The figure dropped to USD 65.59 billion in 2015-16 and further to USD 61.29 billion in 2016-17, Singh said. Around USD 33.47 billion was received from April to September 2017, he added. Singh said there are nearly 31.23 million overseas Indians. A majority of them reside in the US, Saudi Arabia, Canada and Australia.

In response to another question on shortage of staff in Indian embassies and consulates, Singh said the requirement of manpower in any establishment changes depending on the varying workload and the MEA regularly reviews the requirement and takes appropriate action. There are 667 officers and 1,251 support staff in Indian missions and posts, he added.

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