Is remittances from non-resident Indians to their families in India included/excluded in domestic income of India?
Is remittances from non-resident Indians to their families in India included/excluded in domestic income of India?
Anurag Pathak Changed status to publish December 9, 2023
No,
The remittances from non-resident Indians to their families in India are not included in the domestic factor income because it is the current transfer from abroad.
Explanation:-
Domestic income only includes the factor income.
The remittances received by families in india by non-resident indians is not a factor payment.
As families do not provide any factor services against it.
It does not add to the current flow of goods and services in the economy.
Anurag Pathak Changed status to publish December 9, 2023
