Remittance to India, developing nations to rise to $370 bn: WB

Washington: Notwithstanding the recent global financial crisis, remittance flows to developing countries including India is expected to touch $325 billion by the end of this year and is likely to exceed to $370 billion in two years' time, reports PTI quoting a World Bank report.

According to the World Bank's latest Migration and Remittances Factbook 2011, remittance flows to developing countries is expected to reach $325 billion by the end of this year, up from $307 billion in 2009.

Worldwide, remittance flows are expected to reach $440 billion by the end of this year.

"Remittances in 2008 and 2009 became even more of a lifeline to poor countries, given the massive decline in private capital flows sparked by the crisis," Dilip Ratha, manager of the migration and remittance unit at the World Bank said.

Remittance flows to developing countries is expected to cross $370 billion, but this outlook is subject to the risks of a fragile global economic recovery, volatile currency and commodity price movements, and rising anti-immigration sentiment in many destination countries, the report added.

Mr Ratha further added, "High unemployment is prompting many migrant-receiving countries to tighten immigration quotas, which would probably slow the growth of remittance flows. Also uncertain currency movements can have unpredictable effects on remittance flows."

In addition to crisis-related risks, regulations to combat financial crime have become a roadblock to the adoption of new mobile money transfer technologies for cross-border remittances.

"There is urgent need to reassess regulations for remittances through mobile phones and mitigate the operational risks," Mr Ratha said.

As per the report, India, China, Mexico, the Philippines, and France have been top recipient countries in 2010 so far.

According to the Factbook 2011, the top migrant destination country is the United States, followed by Russia, Germany, Saudi Arabia, and Canada.

The top immigration countries relative to population are Qatar (87%), Monaco (72%), the United Arab Emirates (70%), Kuwait (69%) and Andorra (64%).

The report further added that Mexico-United States is expected to be the largest migration corridor in the world this year, followed by Russia-Ukraine, Ukraine-Russia, and Bangladesh-India.

Some developing regions in Europe and Central Asia, Latin America and the Caribbean, the Middle East and North Africa, and Sub-Saharan Africa witnessed larger-than-expected falls in remittances in 2009, while flows to South Asia in 2009 grew more than expected. Those to East Asia and Pacific rose modestly.


Tea exports up 5% to 143.5 million kg: Tea Board

New Delhi: Tea exports from India increased by 5% during the January-September period of the current year to 143.5 million kg, from 136.6 million kg in the corresponding period last year, reports PTI.

According to Tea Board data, both south and north India bettered their tally to the export kitty to 72.6 million kg and 70.9 million kg, from 71.4 million kg and 65.3 million kg respectively from the year-ago period.

However, the average price for each kg exports dipped to Rs132.4 during the first nine months of the current year, as against to Rs139.34 a year-ago, leading to a fall in the export revenue.

While 136.6 million kg exports during January-September period of last year fetched India Rs1,903.77 crore, it fell to Rs1,899.69 crore during current year's first nine months.

Industry officials said the average price fell as the superior-grade Assam tea was badly damaged during the year due to excessive rain and pest attacks.

India exports CTC (crush-tear-curl) variety of tea mainly to Egypt, Pakistan and the UK and the premium orthodox variety of tea to Iraq, Iran and Russia.

Basudeb Banerjee, who recently relinquished from the post of Tea Board chairman, had earlier said that tea exports from the country could be around 200 million kg this year.

Meanwhile, imports of tea into the country also dipped to 12.96 million kg during the January-August period of current year, from 15.82 million kg in the year-ago period.

India imports tea only to re-export to countries like Iraq and Iran.


Varanasi has a few lessons to teach Mumbai as far as celebrating Diwali is concerned

While Mumbai managed to have a comparatively less noisy Diwali thanks to activism from the media and a few NGOs, pilgrimage centre Varanasi managed to keep decibel levels under control

Yesterday, Moneylife had reported (see: on how noise pollution was comparatively less in Mumbai this Diwali, but how law-enforcing agencies found it difficult to control unruly mobs bursting firecrackers beyond the stipulated time in some pockets of the city.

However, Varanasi - considered as the nation's religious hub - has a different story to tell. Law-enforcing agencies ensured that the Supreme Court's rulings were adhered to, thus earning accolades from the residents of the city.

The whole police force of Varanasi, including all commanding officers and station officers, were on the roads to catch the culprits and seize firecrackers, thus proving to be a major relief for students, patients, expectant mothers and literally all sections of society.

The police managed to shut down firecracker shops in the city after 10pm in their attempt to curb noise and air pollution. Most of all, people co-operated with the administration/police to ensure that bursting of firecrackers was over by 11pm.

Satya Foundation, a non-governmental organisation working in the holy of Kashi, made serious efforts to ensure that Diwali is celebrated as the festival of lights and not a festival of noise. The foundation puts up hundreds of flex banners urging people to refrain from noisy celebrations in the name of religion and tradition. Joint pledge programmes were organised in 12 big schools a week before Diwali in Varanasi to urge children to desist from bursting firecrackers.

"The Satya Foundation through all its programmes made it clear that without stern legal action against firecrackers, nothing concrete can be achieved. A delegation of 30 children from 10 schools met divisional commissioner Ajay Kumar Upadhyaya on 26th October and demanded that those using firecrackers after 10pm must be penalised. Altogether, it was a wave against pollution in the name of tradition and religion which made (it) a conducive atmosphere for the administration to come in motion (if not legal action)," according to Chetan Upadhyaya, secretary of Satya Foundation.

Though complete success was difficult to achieve, with this kind of passion and public participation, one can always hope for better results next time, assert citizens of the holy city.

Will the police force and other law-enforcement agencies in Mumbai take up this example in giving much-need relief to citizens, especially students, patients and the elderly, so that various festivals celebrated during the year are more meaningful... and less noisy?



vinod gupta

6 years ago

why r u happy on such occasion when u try to stop some one from celebrating because they r common people they r not allowed to enjoy. u can produce lot of smoke and noice in the name of games, visit of obama. and when the turns comes for the common man to play holi or diwali u look after pollution and light consumption etc etc. and these type of satya organisation never look at the pace of growing vechiles in the country every year 15 million vechicles r added on indian roads ,did any body noticed that u can pollute atmosphere in the name of economy.
making and selling or enjoying diwali with cracers is an old tradition of us
because no big name is attached wth this bussiness u shout and support these satya foundation as u r very concern about us.
i challange u the day a big name is added in the bussiness these satya 's will vanish like satyam

jai hind
it has become a fashion to oppose all hindu festivals.


Chetan Upadhyaya

In Reply to vinod gupta 6 years ago

Very good Vinod. Do not mix religion and tradition with HEALTH and NOISE-FREE SOCIETY. I am a Hindu Brahmin born in Varanasi (YAGYOPAVIT ho chuka hai mera, mere dost). I started this mission when my own colony residents started complaining of serious health symptoms. And remember, both Hindus & Muslims have been in touch with us. We are NOT AGAINST ANY RELIGION OR ANY KIND OF CELEBRATION, we're JUST AGAINST NOISE POLLUTION. As far as your question of Vehicular Noise, we have already provided Decibel Meter to Traffic Police in Varanasi, who will now challan the vehicles using hooter & pressure horn. People like you can be treasure for us. Come, join our this NEWLY LAUNCHED WING against Vehicular Noise. Yours truly, Chetan Upadhyaya 09212735622

Chetan Upadhyaya

In Reply to Chetan Upadhyaya 6 years ago

Our success is incomplete. Still a lot of Noise is there. I mean TOO MUCH OF UNBEARABLE NOISE from Canopyless generators, pressure horns/hooters and so many things.. But the ice has just started melting... Let's support the agenda of HEALTH AND PEACE... We are still in the JOURNEY called LIFE- which is full of ups and downs, securities and fears, profits and losses. WE WANT EVERYBODY'S LOVE AND COMPASSION for the achievement called peaceful planet WHICH IS ACTUALLY a real paradise... IF we can awaken to the truth of SELF. One should not mix religion in daily affairs of THIS BEAUTIFUL PARADISE. If a temple or mosque is making Noise or when a common man & a leader flout norms after 10 p.m., Satya Foundation has never differentiated between them. And if you can take this evidence from different sources and people, it will dispel all your imaginary confusions & fears.

Chetan Upadhyaya
Secretary, Satya Foundation
E-mail: [email protected]

vinod gupta

In Reply to Chetan Upadhyaya 6 years ago

dear chetan first off all a salute to u for ur effort but what i said was why diwali is chosen for that why r u silent when netaji wins election or student union win election. u talk about decibels
i am also from ballia but brought up at orissa in a mining belt where all records r broken by mining companies u will feel a tremour in the morning and evening yes tremour as if a earth quake has happened and what not of engineering u apply in constructing a house or building it is sure to have cracks in few months or say body has ever taken care of that because it is done by tisco and later in the eve u hear thousands of dynamites blasting every second
because it is mining u may say that this is economy but i am sure its not economy but big names attached to it . have u ever thought of the family producing those extra decible bombs never because u only concentrated on controlling those decible.
no matter its fine u control that irritating decibles but do u know the consequences yes
dear the police stop all types of crackers and yet a great kick on the stomach of those people who want to improve their life by selling these seasonal items. as govt is still happy in sucking blood of each individual till they reach last man by any means

there is more to say but time does not permit

how ever my concern was it happened to be kolkata a good market for these crakers sellers but due to activist like u who wanted the society to be decibel free have forced to vanish from the market and it no longer exist a prominent cracker selling market of eastern india

kindly think

V Malik

6 years ago

Wow, great report, thanks. And all this from Eastern UP, too, considered to be the lawless belt . . . this could do with more dissemination. Please forward this to all the RWAs and schools in and around Mumbai? And other large cities, too . . .

We are listening!

Solve the equation and enter in the Captcha field.

To continue

Sign Up or Sign In


To continue

Sign Up or Sign In



The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)