remittance
English meaning: Remittance
English Definition
(English)Remittances are transfers of money from migrant workers abroad to their families at home. They serve as a lifeline for millions of households, supporting consumption, education, and healthcare. India consistently ranks as the world's top remittance recipient. For states like Kerala, Goa, and Punjab, remittances are a critical economic pillar supporting local development.
English Definition
Money sent by a migrant worker to their home country. India receives the world's largest remittances — $83–100 billion annually — from the Indian diaspora in the US, UAE, UK, Saudi Arabia, and other countries, exceeding Foreign Direct Investment as a source of foreign exchange.
Example
“India received over $100 billion in remittances in 2022 — the world's largest — accounting for 3% of GDP and supporting millions of families.”
In English: “India's $100 billion in remittances makes it the world's top recipient, supporting millions of households.”
Synonyms
- money transfer
- foreign inflow
- migrant transfer
Antonyms / Opposites
- capital outflow
- repatriation of profits
Literary Heritage
“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness.”
“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness.”
Images
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Language information
- Language
- English
- English
- Script
- Latin
- Family
- Indo-European
- Speakers
- 1.5B