NRI remittances, rather than software exports, have helped manage India’s balance of payments position, according to the Economic Times.
According to the Times report, the Reserve Bank of India’s figures show that NRI money has kept down the current account deficit in 1999-00 to $4,163m, comparable to last year’s figure of $4,038m.
So, NRIs are still doing their bit for the motherland, though involuntarily in some cases!
- nriol.com report
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