Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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From $1 billion in 2012 to over $13 billion in 2018, higher remittances could indicate greater spending abroad as rich Indians look to diversify or the beginnings of a flight of capital. 

New Delhi: Indians sent more money out of..."/>
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                            <div align="justify">-TheWire.in<br /><br /><em>From $1 billion in 2012 to over $13 billion in 2018, higher remittances could indicate greater spending abroad as rich Indians look to diversify or the beginnings of a flight of capital. <br /><br />New Delhi: </em>Indians sent more money out of the country than ever before in July 2019 under the liberalised remittance scheme (LRS), in a development that comes even as the Narendra Modi government looks to attract foreign direct and portfolio investment.<br /><br />Recent data shows that in the first four months of FY&rsquo;20, resident Indians sent out a little over $5.8 billion. This is higher than the aggregate outward remittance under LRS during the five years of UPA-II (April 2009 &ndash; March 2014).<br /><br />Under the LRS initiative, all resident Indian individuals, including minors, are freely allowed to transfer up to a quarter million dollars ($250,000) per financial year for any permissible current or capital account transactions.<br /><br />The current account transactions can include spending money on &ldquo;maintenance of close relatives&rdquo; or for travel, education and medical purposes. Money can also be remitted abroad to family members as &ldquo;gifts&rdquo;.<br /><br />Remittances can also transferred for capital account transactions, money that can be used to open a foreign currency account overseas with a bank, purchase of property and making investments in mutual funds or venture capital funds.<br /><br />Please <a href="https://thewire.in/economy/resident-indians-remitting-more-money-abroad" title="https://thewire.in/economy/resident-indians-remitting-more-money-abroad">click here</a> to read more. <br /></div>                                                           
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From $1 billion in 2012 to over $13 billion in 2018, higher remittances could indicate greater spending abroad as rich Indians look to diversify or the beginnings of a flight of capital. 

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                            <div align="justify">-TheWire.in<br /><br /><em>From $1 billion in 2012 to over $13 billion in 2018, higher remittances could indicate greater spending abroad as rich Indians look to diversify or the beginnings of a flight of capital. <br /><br />New Delhi: </em>Indians sent more money out of the country than ever before in July 2019 under the liberalised remittance scheme (LRS), in a development that comes even as the Narendra Modi government looks to attract foreign direct and portfolio investment.<br /><br />Recent data shows that in the first four months of FY&rsquo;20, resident Indians sent out a little over $5.8 billion. This is higher than the aggregate outward remittance under LRS during the five years of UPA-II (April 2009 &ndash; March 2014).<br /><br />Under the LRS initiative, all resident Indian individuals, including minors, are freely allowed to transfer up to a quarter million dollars ($250,000) per financial year for any permissible current or capital account transactions.<br /><br />The current account transactions can include spending money on &ldquo;maintenance of close relatives&rdquo; or for travel, education and medical purposes. Money can also be remitted abroad to family members as &ldquo;gifts&rdquo;.<br /><br />Remittances can also transferred for capital account transactions, money that can be used to open a foreign currency account overseas with a bank, purchase of property and making investments in mutual funds or venture capital funds.<br /><br />Please <a href="https://thewire.in/economy/resident-indians-remitting-more-money-abroad" title="https://thewire.in/economy/resident-indians-remitting-more-money-abroad">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://thewire.in/economy/resident-indians-remitting-more-money-abroad" class="re" target="_blank">TheWire.in, 16 September, 2019, https://thewire.in/economy/resident-indians-remitting-more-money-abroad</a><div class="clear"></div>
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                            <div align="justify">-TheWire.in<br /><br /><em>From $1 billion in 2012 to over $13 billion in 2018, higher remittances could indicate greater spending abroad as rich Indians look to diversify or the beginnings of a flight of capital. <br /><br />New Delhi: </em>Indians sent more money out of the country than ever before in July 2019 under the liberalised remittance scheme (LRS), in a development that comes even as the Narendra Modi government looks to attract foreign direct and portfolio investment.<br /><br />Recent data shows that in the first four months of FY&rsquo;20, resident Indians sent out a little over $5.8 billion. This is higher than the aggregate outward remittance under LRS during the five years of UPA-II (April 2009 &ndash; March 2014).<br /><br />Under the LRS initiative, all resident Indian individuals, including minors, are freely allowed to transfer up to a quarter million dollars ($250,000) per financial year for any permissible current or capital account transactions.<br /><br />The current account transactions can include spending money on &ldquo;maintenance of close relatives&rdquo; or for travel, education and medical purposes. Money can also be remitted abroad to family members as &ldquo;gifts&rdquo;.<br /><br />Remittances can also transferred for capital account transactions, money that can be used to open a foreign currency account overseas with a bank, purchase of property and making investments in mutual funds or venture capital funds.<br /><br />Please <a href="https://thewire.in/economy/resident-indians-remitting-more-money-abroad" title="https://thewire.in/economy/resident-indians-remitting-more-money-abroad">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://thewire.in/economy/resident-indians-remitting-more-money-abroad" class="re" target="_blank">TheWire.in, 16 September, 2019, https://thewire.in/economy/resident-indians-remitting-more-money-abroad</a><div class="clear"></div>
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Home हिन्दी

Why are resident Indians remitting more money abroad than ever before?

Published on Sep 21, 2019   Modified on Sep 21, 2019

-TheWire.in From $1 billion in 2012 to over $13 billion in 2018, higher remittances could indicate greater spending abroad as rich Indians look to diversify or the beginnings of a flight of capital. New Delhi: Indians sent more money out of the country than ever before in July 2019 under the liberalised remittance scheme (LRS), in a development that comes even as the Narendra Modi government looks to attract foreign direct and portfolio investment. Recent data shows that in the first four months of FY’20, resident Indians sent out a little over $5.8 billion. This is higher than the aggregate outward remittance under LRS during the five years of UPA-II (April 2009 – March 2014). Under the LRS initiative, all resident Indian individuals, including minors, are freely allowed to transfer up to a quarter million dollars ($250,000) per financial year for any permissible current or capital account transactions. The current account transactions can include spending money on “maintenance of close relatives” or for travel, education and medical purposes. Money can also be remitted abroad to family members as “gifts”. Remittances can also transferred for capital account transactions, money that can be used to open a foreign currency account overseas with a bank, purchase of property and making investments in mutual funds or venture capital funds. Please click here to read more.

TheWire.in, 16 September, 2019, https://thewire.in/economy/resident-indians-remitting-more-money-abroad

Tagged with: liberalised remittance scheme LRS Capital flight

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