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?
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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.
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