Migration and Development Brief 2021 – UPSC Prelims

Migration and Development Brief Report:
  • Prepared by: The report is prepared by the World Bank.
  • Aim: The report aims to provide an update on migration and remittance flows and related policies.
  • The report is produced twice a year.
Key Findings of the Migration and Development Brief:
  • India is the world’s largest recipient of remittances.
    • It received $87 billion in 2021.
    • India had received over $83 billion in remittances in 2020.
  • Reasons for the increase in Remittances:
    • Migrants determination to support their families in times of need.
    • Stronger oil prices and the resulting pickup in economic activity in Gulf.
    • Severity of caseloads and deaths during the second wave of pandemic played a prominent role in drawing substantial flows (including for the purchase of oxygen tanks) to the country.
  • Biggest Source of Remittance for India: The United States was the biggest source, accounting for over 20% of these funds.
  • Other Countries: India was followed by China, Mexico, the Philippines, and Egypt.
  • Projections for 2022: In India, remittances are projected to grow 3%in 2022 to $89.6 billion, reflecting a drop in overall migrant stock as a large proportion of returnees from the Arab countries await the return.
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