Remittances in India: Past, Present and Future

Registration ID: IJNRD_222895

Published ID: IJNRD2405827

DOI: Click Here to Get

Sanjana Prakash , Prof Rachna Mujoo

Remittances, ARIMA, Indian Economy, Migration, Global Recession

Growing remittances inflow in India has simply leveled the debate up over the changing dynamics of growth and development. Remittances have proved to be a very vital source of foreign exchange earnings and it requires a detailed analysis of how the trend has been all these years and how it is likely to be in the next decade. This will enable the policy-makers to implement take corrective actions so that the benefits of remittances are harnessed in the most efficient manner. This study has considered the inflow of remittances from 1975 to 2022 and has made use of ARIMA for the forecast. In the process, a number of models have been evaluated and the final selection ended with (2,0,1) which had the lowest AIC. The study concluded that remittances may initially go up slightly but will have a slight dip afterwards and will have smooth and consistent trajectory throughout the decade. Since in the last few years of the time period considered in the study, there was Covid-19 and Russia-Ukraine War and many studies have also speculated the advent of a global recession, the likelihood of such a trend in remittances can be attributed to them.

Published Paper   E-Certificate

Sanjana Prakash & Prof Rachna Mujoo (May-2024). Remittances in India: Past, Present and Future. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 9(5), I240-I247. https://ijnrd.org/papers/IJNRD2405827.pdf

Volume 9 Issue 5, May-2024

Pages : I240-I247

Paper Reg. ID: IJNRD_222895

Published Paper Id: IJNRD2405827

Downloads: 000121978

Research Area: Commerce

Country: Lucknow, Uttar Pradesh, India

Published Paper PDF: https://ijnrd.org/papers/IJNRD2405827.pdf

Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2405827

Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

ISSN: 2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar | ESTD YEAR: 2016

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