Covid curb impact: Remittances decline up to 10% in two week

Covid curb impact: Remittances decline up to 10% in two weeks amid reverse migration


Updated Apr 14, 2021 | 11:26 IST
With nearly 1.85 lakh daily cases being added on Tuesday, several states have imposed restrictions to prevent the spread of Covid-19 cases.
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New Delhi: With industrial states like Maharashtra imposing localised lockdown amid a rapid surge in Covid cases and apprehensions about similar curbs in Delhi-NCR, migrant workers have started moving back to their villages, affecting remittances. According to a report in the
Economic Times, remittances to less-affluent hinterland from these urban pockets have already by 10% in the past two weeks.
The business daily citing major remittance companies mentioned that the rapid spread of Covid in urban areas and concerns over a total lockdown, as was the case last March, have already prompted a section of the migrant workforce to leave the big cities. However, infrastructure and manufacturing projects, which have put in place an enabling ecosystem for the migrant staff at worksites, could mitigate the impact of a reverse migration.

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