Financial Daily from THE HINDU group of publications
Tuesday, Jan 10, 2006


Group Sites

Industry & Economy - NRIs

Gulf NRI body welcomes new initiatives

Vimala Vasan

Abu Dhabi , Jan.9

THE UAE-based Pravasi Bandhu Welfare Trust has welcomed the initiatives announced by the Prime Minister, Dr Manmohan Singh, at the Pravasi Bharatiya Divas and called for their quick implementation.In a statement, the Trust's Chairman, Mr K.V. Shamsurdheen, pointed out that several of the initiatives announced would have a positive impact on Gulf-based NRIs.

"Dr Singh has announced `on-site welfare measures' including easy-to-use remittance facility and launch of a more liberal Pravasi Bharatiya Bima Yojana from February 1 this year. Besides streamlining and modernising the process of emigration, the Government will support initiatives to develop skills of workers and set up credible mechanisms for certification of those skills and set up a special mutual fund to change the saving culture of middle income NRIs from GCC countries, who spend most of their earnings. We request the government to implement the announcements at the earliest," he said.

The Trust has in the past few years, been requesting the Indian Government to address a host of issues related to Gulf-based NRIs. He pointed out that a survey conducted by the Trust, on the savings pattern among middle income NRIs, showed that only 5 per cent could manage a comfortable life when they return to India and only 2 per cent saved from the remittances sent from abroad.

More Stories on : NRIs

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Respite from cold likely for now, fog tipped to return

Remit2India launches NRI services
LVB hikes rates on term, FCNR, NRE deposits
Gulf NRI body welcomes new initiatives
Kalam urges NRIs to aid rural development
Ahmednagar NGO set to launch biodiesel project
`Higher growth, expenditure, proper utilisation key for coherent economy'
Reduction in food subsidy to raise State Govt burden
Carbon credit: Rs 15,000-crore investments likely
Mickey, Donald bring cheer to children in hospitals
Reliance demands compensation for selling petro products below cost price
High-level meeting to avert chemists' strike
Copters to clean power lines in Northern Grid — But consumers may have to shell out more
TN Chamber welcomes tax cut
Cricket telecast: SC asks Prasar Bharati to file response
`Big' small cars to miss fair action
SSI promoters buy out partners' stake in Buckingham Real Estate
Newsprint market likely to stay bullish this year
India Inc makes a pitch for fiscal, R&D sops — Lower direct tax burden; scrap or simplify FBT
Doing business with US `much easier' for ISRO now
Disturbed conditions due to police firing — Iron ore traffic to Paradip hit
The man behind the make-believe
`VAT is okay; what is not okay is unstable policy guidelines'
Indian tariffs high, says US official
Take technology to villages: Kalam
Tripartite textile panel likely to thrash out labour reforms issue — Trade unions keen to participate in talks
Alleged harassment of women mill workers — Textile unions plan State-wide protest
Suguna group to export 'portion' chicken to Japan
Chhattisgarh to announce tax waiver to promote tourism
Karnataka submits Rs 611-cr tourism proposal to Centre
Foreign tourist arrivals increase 13 pc
As the sun goes down

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line