Mohan Guruswamy 18 mins · Remittances contributed $72 billion - TopicsExpress

Mohan Guruswamy 18 mins · Remittances contributed $72 billion last year to narrow the current account deficit. Without them our own economy will be in a deep hole. A major portion of the remittances, termed as invisibles in the Finance Ministry and RBI circles, comes from invisible people who endure huge hardships in the middle-east to send money to sustain their families in India. Kerala accounts for half the remittances. The idea to impose charges on remittances can be described as inspired to help the hawala business. Needless to say all our political parties and many of our leaders have hawala connections. This idea is stupid and we will only end up shooting our feet. The Finance Minister should be thinking of meaningful ways of serving all the people and not just past and future clients.

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