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Sirjee foreign remittances hurt India more than the good they do. They contribute to the housing bubble and inflation we now see in India. Economics 101 says that any country generating money out of thin air without producing any good would end up with its economy in doldrums. While remittances do inject foreign cash flow into GoIs coffers they hardly contribute to our economic prosperity. It is the pakodawallahs and chop shilpo wallahs who end up contributing more than a suit booted NRI coming home to buy up acres of land in a posh place.How many Indian companies have foreign CEOS? Do you know Indian diaspora sends highest amount of foreign remittance to India which has saved India from many sever financial crisis?
https://www.weforum.org/agenda/2015/02/do-remittances-drive-economic-growth/
Look up the above link and you may go through it. It will clear your perceptions and misconceptions about foreign remittances.
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