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ROLE OF REMITTANCES IN ECONOMY

There are many ways to measure national income worldwide such as GDP (Gross Domestic Product), GNP (Gross National Product), NDP (Net Domestic Product), NNP (Net National Product), and others and if we talk about India in particular, then GDP is the biggest measure for measuring national income in India. First of all, we need to know what is the national income? National income is the amount of money that is earned by the people of a country in the entire financial year and based on this, economic rankings of countries around the world are done, like which country is at rank one.

But there is another aspect of this national income which is known by the name of remittances and it is very important to know what the remittances are, only then the national income can be understood well. Understanding from India’s perspective, remittances are the amount that is earned by Indian people working in another country and when they send the earned amount to India, then it is recorded in the Indian economy. But the thing to note is that remittances do not affect direct GDP and are not directly taken into national income, but remittances are included through GNP.

According to the current data, India is at the forefront of the race for Remittances with a total of 80 billion dollars in the 2018-19 financial year followed by China (USD 67 billion), Mexico, and the Philippines (USD 34 billion each) and Egypt (USD 26 billion). If a person wants to go out and work in a country, then he/she has to go through many types of legal procedures and many legal documents have to be presented to the government and one of them is the name of the important document. The IELTS Scorecard Scorecard is an English proficiency test scorecard that describes a candidate’s ability to handle the English language and it is most needed when the English language is used for communication in the country in which the candidate wants to go and work. If we look at the IELTS writing test as an example, it has 2 parts, IELTS Writing Task 1 and IELTS Writing Task 2.

Important Aspect of the IELTS Exam:

Students are asked by the examiner to write a letter on a subject under IELTS Writing Task One in a request for information and explaining the situation and there is not much emphasis on the writing style due to which writing style can be personal, semi-formal or informal and then the English writing skills of the candidate is measured based on the content of the letter written by the candidate. But task-2 is slightly different from task-1 and under IELTS Writing Task 2, the examiner asks a candidate to write an essay such as response to a point of view, argument or problem and here too, the writing style can be personal or casual.

Types of IELTS:

There are two types of IELTS exams, first of which is the IELTS General Test which is specially designed for those who want to go out of the country for jobs purpose, and the second test which is named IELTS Academic is designed in a way and meant for those students who want to go to an outside country and complete their higher education.

Although all the four sections of the IELTS exam have their different significance, it has been found that most candidates struggle in writing test and to tackle this situation, students are trying various ways such as coaching institutes, online web portals where they easily get the IELTS writing task and IELTS Writing Task 2 tips.

Reasons Behind Migration:

But if we talk about why Indian people want to go out and work, then there can be many reasons for this such as, the lack of opportunity in India because we all know that India has a very large population and providing employment opportunities to such a large population has always been a challenging task for the Indian government. One important reason for this may also be that in India it has been found that the candidates do not get the monetary benefits according to their talent, due to which he shifts his stance towards western countries.

Over the past several years, the number of Indian students applying for the IELTS exam has been increased drastically and it has been found that on an average more than six lakh candidates attended the April 2019 IELTS exam in Punjab only. Students have started using technology for the IELTS exam preparation and easily getting help and study material such as IELTS Writing Task 2 tips, sample papers, mock tests, mock interviews, and other things, which assists candidates for better preparation.