Question

    How much remittance was sent to India in 2023 by Indians

    working in the U.S., as per the proposed U.S. excise tax impact?
    A $18 billion Correct Answer Incorrect Answer
    B $20 billion Correct Answer Incorrect Answer
    C $21.5 billion Correct Answer Incorrect Answer
    D $23 billion Correct Answer Incorrect Answer
    E $25 billion Correct Answer Incorrect Answer

    Solution

    Over 2.3 million Indians in the U.S. sent approximately $23 billion in remittances to India in 2023 . This number is crucial when discussing the impact of proposed U.S. legislation imposing a 5% remittance tax on non-citizens. Such figures are highly testable under the international economics and remittance theme in exams.

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