India's Remittance Inflow Further Declines By $4.3 Billion In 2016-17

A majority of remittances to India comes from Indian citizens living in the Gulf region.

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India's Remittance Inflow Further Declines By $4.3 Billion In 2016-17

India received $ 61.29 billion in remittances in 2016-17 (File)


New Delhi:  India received $ 61.29 billion in remittances in 2016-17, which is a decline of $ 4.3 billion compared to the previous year, according to details provided by the government.

Replying to a question in the Rajya Sabha, Minister of State for External Affairs V K Singh said India had received $ 65.59 billion in remittances in 2015-16 against $ 61.29 in 2016-17.

It was $ 69.81 billion in 2014-15, he said.

A majority of remittances to India comes from Indian citizens living in the Gulf region.

"Economic slowdown and job losses in the Gulf region, arising out of an unprecedented fall in crude oil prices might have resulted in the decrease of inward remittances to India," Singh said.

To a separate question on Pakistan, he said the government has "clear and consistent" position that it desires normal neighbourly relations with that country, and is committed to addressing all outstanding issues bilaterally and peacefully.

"However, any meaningful dialogue can be held only in an atmosphere free of terror, hostility and violence. Onus is on Pakistan to create such a conducive atmosphere," he said.

Mr Singh said continued cross-border terrorism remains a core concern for India.

"India has repeatedly called upon Pakistan to abide by its commitment not to allow any territory under its control to be used for terrorism against India in any manner," he said.

Mr Singh said,"Pakistan has also been asked to take effective actions to end terrorism and dismantle terrorist infrastructure on the territory under its control. Till then, India will continue to take firm and decisive steps to respond to cross-border terrorism."


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