Remittances mean more than mere

money: UN report
October 5th, 2009 - 4:58 pm ICT by IANS -

New Delhi, Oct 5 (IANS) Remittances from Indian migrant workers, which are about 1.5
times more than the total foreign investments in the country, have far-reaching benefits
such as pushing up school enrolment, according to a United Nations report.
Additionally, remittances help reduce fertility and empower women, said the Human
Development Report prepared by the United Nations Development Programme, released
globally Monday.

According to data with the Reserve Bank of India (RBI), private transfer receipts
comprising mainly remittances from Indians working overseas and local withdrawals
from NRI (non-resident Indian) rupee deposits, increased 9.4 percent to $13.3 billion
during the first quarter this fiscal from $12.2 billion in the corresponding period a year
ago.

“While not a substitute for broader development efforts, migration can be used as a vital
strategy for households and families seeking to diversify and improve their livelihoods,”
said the report titled “Overcoming Barriers: Human Mobility and Development”.

India has about 25-30 million citizens working overseas, with a bulk of them employed in
the Gulf region.

Released in India by Planning Commission Deputy Chairman Montek Singh Ahluwalia,

the report noted that nearly one billion of the world’s estimated 6.7-billion population are
migrants with women making up for almost half of that.