what is remittances? how does it boost the parent country
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Increased inward remittance is a boon for the economy at both macro and micro levels. At the macro level, remittances contribute to maintaining stable foreign reserves. Remittances help Indian Rupee hold its value against the US dollar and forms a significant part of the GDP
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Remittance and the Indian Economy. ... Remittances help Indian Rupee hold its value against the US dollar and forms a significant part of the GDP. On a micro level, remittances have shown a positive impact on healthcare, entrepreneurship, education, and overall economic development of the recipient families.
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