Validate your argument with sources - compare the remittances from Gulf to Indian GDP, exports etc and see what percentage they form of our economy and forex. These remittances don't go to exchequer - Govt just deducts the taxes and balance goes to people. No different in any way than domestic Indians.
From what I can see you exactly blowing hot air with half-truths. It is true remittances are an important source for Forex for India but how exactly do they picked India up from the gutter and lifted her up and above Pakistan to quote your words is beyond my expertise as a professional in finance.
Indian GDP is 1.2 Trillion USD and taking your figures at face value the Gulf portion is 33 Billion USD barely .3% at max of Indian GDP. So do you mean to say 0.3% is responsible for picking India up from Gutter and not 99.7%. Vacuous argument
The thing which lifts India up is our domestic market and consumption and massive human capital responsible for service based exports. Gulf remittances form a minuscle part of growth of India.
Less rhetoric and more logic please for your next post please.
They are very, very significant as they are in Pakistan. In our case they are lifeline without which Pakistan would sink like stone in water. Your earning foreign currency like exports. In fact is a form of export. So why not compare the remittances with your export figures and you will see the massive effect on Indian economy.
Money earned from any type of exports be it cars or remittances does not directly go to government. However that money is spent inside the country. Workers abroad send the money home to build houses, buy cars, buy food in other words products and services. All that is taxed by government any other economic activity.
$33 billion is larger than the entire Pakistan exports combined. All that money comiong into the country is going to slush around the economy. If Pakistan next year saw extra £30 billion coming in it would lead to massive economic activity as it would lead to spike in consumption.
Even the simple act of a worker going to Saudia or UAE generates money and jobs. Lets look at this. Worker books a ticket with
agent, workers goes to
airport, worker flies the
airline. Even this will support the agent, the airport which in turn will employ staff at the airport, the airline which will support pilots and other aircrew. Technical ground crews. Also more customers will lead to more aircraft being bought.
As example if 2 million extra workers were employed in the greater Islamabad/Rawalpindi area ( or Lahore or any other metropolitan area of Pakistan ) it would lead to the Islamabad Airport suddenly getting on average 4 million extra passengers a year. Do you the number of extra aircraft that would have be bought by Airblue or PIA etc. In addition more houses would be built leading to more demand far builders and cement etc. Even truckers would benefit. Every dollar has a multiplier efffect.
Anyway I am not interested in turning this into Pak/Inda thing. I used India to convery a point. UAE and Saudia are
helping Pakistan however UAE anf Saudia are helping India
twice more. So all that singing and dancing Pakistani's do with regards to Saudia should be kept in mind.
The truth is the Saudi's and UAE have bought out our corrupt elites. That ensures they recieve such fanfare in Pakistan. Modiji can't run of to Saudia as refuge or spend half of his year in UAE. Sharif and Zaradari can and do. That is the bottom line.
@Mastan Khan The point you make about size is invalid. For a start India is 6.5 times bigger not 5. Secondly a ally or friend is not going to share a cake out according to size. It will share it out according to depth of friendship. Next time it want's help from Pakistan why not approach India in the same ratio then?
If I have animosity with a family xyz and my best friend gives more invites to xyz I don't he coud defend himself by saying "Yaar his family is bigger than yours". I realize nation states are not expected to behave like individuel behaviour and Saudia or UAE have perfect right to choose who they want.
All I am saying is to fellow Pakistani's stop treating like they are our special saviours. They are not. Accept what we get and move on.
