NRI Remittances to Kerala Grows

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Remittances to Kerala have continued to grow and have reached highest figures this year, a study titled Kerala Migration Survey (KMS)- 2014 has revealed.

The study, sixth in its series, was released on 17 September 2014.

During the 12-month period ending in March 1, 2014, remittances stood at Rs.72,680 crores, 46 percent higher than the remittances in 2011.

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It revealed that the total remittances that stood at Rs.13,652 crores in 1996, grew to Rs.18,465 crores in 2003 and in 2008 it touched Rs.43,288 crores. In 2011, the total remittances was Rs.49,695 crores.

The study reveals that the per capita income in the state would be Rs.63,491 without taking in to account the remittances, but would be Rs.86,180 if remittances were taken into the calculation.

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