Time, cost of domestic remittances must reduce: Jairam Ramesh
The Hindu
Jairam Ramesh emphasizes the need to reduce time and cost for domestic remittances, highlighting their economic significance.
Congress leader Jairam Ramesh on Saturday (February 14, 2026) called for a reduction in the time and cost of domestic remittances, saying they help the economies of several eastern and northern States, including Uttar Pradesh.
In a post on X, he noted that while India's remittances from abroad get more policy attention than domestic remittances, this must change due to the volume of domestic remittances as well as their socio-economic profile.
"India's remittances from abroad in 2025 totalled about $135 billion. This is around 3.4% of GDP. These remittances have been exceedingly important for managing the country's balance of payments and have been crucial for the economies of a number of States like Kerala. These remittances have been well studied," Mr. Ramesh said.
India's remittances from abroad in 2025 totalled about $135 billion. This is around 3.4% of GDP. These remittances have been exceedingly important for managing the country's balance of payments and have been crucial for the economies of a number of states like Kerala. These…
On the other hand, he pointed out, there is less awareness regarding the scale of domestic remittances, which refer to money sent by migrant workers from one State to another within India.
He cited estimates for Kerala, indicating that domestic remittances from the State may account for about one-third of the overseas remittances received by it.
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Jairam Ramesh emphasizes the need to reduce time and cost for domestic remittances, highlighting their economic significance.
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