Remittances to India rise to $66.13b

Remittances to India surged to $66.13 billion in 2011-12 as compared to $55.62 billion in the previous year, Union Minister of Overseas Indian Affairs Vayalar Ravi said. Remittance flow has risen consistently in the last three years. In 2009-10, total remittance flow to India through private transfers was $53.63 billion, Ravi said in a written reply in parliament. Referring to a study by the Reserve Bank of India (RBI), the minister said Ravi said the government has launched an initiative called “Mahatma Gandhi Pravasi Suraksha Yojana” to help in resettlement of the overseas Indians. From gulftoday