EMERGING ISSUES IN INDIAN ECONOMY — Economics STD 12 Commerce — Question
Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsEMERGING ISSUES IN INDIAN ECONOMY3 Marks
Question
How does migration lead to faster economic development?
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Answer
Contribution towards a faster economic development:
When Indians migrate to other countries, they send a part of their earnings to their families.
They also invest a part of their income in Indian businesses, trading and industries. The investment comes to India in foreign currency. Hence, our foreign exchange, increases which then results in faster economic growth and economic development of our country.
It should be noted that the migration has rised especially after the new economic reforms of $1991.$ This has led to greater inflow of foreign exchange in India and faster rise in its economic development.
Another advantage of migration is that when Indians go abroad for higher education they gain rich experience from the foreign systems and methodologies. When they return they use the same in India and help India develop more.
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