India tops remittances in 2008
WASHINGTON: With migrant workers facing job losses, anti-migrant sentiment and even violence in the deepening global financial crisis, World Bank
researchers predict remittances will fall to $290 billion in 2009, from last year's high of $305 billion.
Remittances flowing to developing countries from Russia, South Africa, Malaysia and India are "especially vulnerable to the rolling economic crisis", says the bank's revised Migration and Development Brief.
With a total of $45 billion, India was the top recipient of remittances in 2008. China came next with $34 billion followed by Mexico ($26 billion), Philippines ($18 billion) and Poland ($11 billion).
http://timesofindia.indiatimes.com/World/India-tops-remittances-in-2008/...
ya SK, after paying 40% to my host country, another 5% would be pain in the neck!
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oh...i know, was just kidding....
QueenBee there was a thread recently on this, but it's unlikely to be true.
Siddh - That was HOAX my dear. I had stated it in that thread itself. Did you check the link provided?? there is nothing regarding the new tax.
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Tax on NRI income? Siddh when was this, is this new?
No wonder why the govt is tempted to impose a tax on NRI income...
Queen - Thanks for the link, so its accepted only from NRO and not NRE, hence taxable too at source. Still its a good deal. :)
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Arien,
I partially agree to you but one reason my friend in Delhi mentioned is that Tata wants additional funds to:
Quote
"..shore up its balance sheet since now they have to carry jaguar / land rover on their shoulders at company level and Corus at Group level"
Unquote
Watever that meant...lol..btw they offered the FDs at 11% not 11.5%...sry for the error.
Heres the URL giving some details.
http://www.r2iclubforums.com/forums/f32/tata-motors-fixed-deposit-scheme-9297/
Queen bee- I think the reason behind is that lending rates are braught down after the recovery messures from the side of reserve bank. They cannot afford to give out that much interest anymore.
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well, you need to know the prevailing rates when you negotiate, nothing to worry about encroaching mom-me, just make sure the papers are inorder.
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there are a billion of you!
"Deaths in the Bible. God - 2,270,365
not including the victims of Noah's flood, Sodom and Gomorrah, or the
many plagues, famines, fiery serpents, etc because no specific numbers
were given. Satan - 10."
Thanks Queen will find out.
Arien, what about the problem of people encroaching property and one should be good in buying and selling property frequently.
Even now , my advise is to invest in land. Small plots and not big area ones. Its sure fire. :)
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Tata Motors just closed its FD offering 11.5% PA...
Good for you Arien. When in India I had invested long term in State owned banks and even post office, which gives more returns. Now as NRI they tax you more than resident Indians and the options for NRI to invest back home is limited.
mom-me - Before the recession and its fears hit, It was Real estate , which was the sure fire one for many. It was giving excellent returns.
Now , its just money transferd to the NRe accounts and it remains there , may be until this turmoil ends.
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mom-me - No, real estate was not dead investment in the past 6 to 8 years. Appreciation was too good. Through out the south , land value appreciated more than 400% in past 6 years. I had not left a penny in ma account.
HDFC - I have no idea since never invested.
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Arien, is'nt real estate a dead investment of sorts. The only good thing about NRE account is that interest is tax free, but the interest rates are poor. Private banks like HDFC do have a team to manage your financial portfolio but how good is their service?
Where are Indians investing their money ? The good old days of 11% yearly interest are gone.
Even though China has more population ....it has its limitations outside China due to its unease with English language....
else all call centers would have landed up in China and nowhere else.....
And a lot of credit should also go to Communism in Kerala and West Bengal....recent example being the closed Sringur factory... :)
Oops.. Thats some money eh??
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