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Table of Contents
February 7, U.S. tech and automobiles billionaire Elon Musk made history when the Falcon Heavy, the world‟s most powerful rocket, was successfully launched by SpaceX
Falcon Heavy’ is a partially reusable super heavy-lift launch vehicle designed and manufactured by SpaceX
230-ft-tall rocket with 2,500 tonnes of thrust, the equivalent of 18 Boeing 747 aircraft
comparison, the ISRO GSLV Mark-III, the rocket with maximum payload carrying capacity, can hoist only about 10 tonnes payload to low Earth orbit
At $90 million, it is light on the pocket compared with Delta IV Heavy, which costs about $435 million per launch.
It is sheer engineering brilliance that makes the Falcon Heavy cheaper.
As the borders begin to close
India‟s policymakers must be alive to uncertainty in migrant remittances from the West and
West Asia
Global •financial crisis in 2008, the world has begun looking to developing nations to show the
way to high economic growth and development.
Emerging economies, India and China
23 countries, led by India and followed by China, Philippines, Mexico, Pakistan and
Nigeria, receive over 80% of global remittances
Share of gross domestic product (GDP), the top •five recipients are smaller nations: Haiti, the
Kyrgyz Republic, Liberia, Nepal and Tajikistan
Helped lift millions out of poverty and unemployment and enhanced their standard of living
and human development.
In this context, India’s case is no different- Kerala, which receives remittances equalling 36.3%
of its gross State domestic product
India has witnessed sharp remittance growth since 1991.
Remittances, which were valued at $2.1 billion in 1991, touched $70.4 billion in 2014
Since then, the value of remittances to India has seen a modest decline: $68.9 billion in
2015 and $62.7 billion in 2016
There was a slight improvement last year — $65.4 billion.
World- debate on migration, considerable uncertainties about remittances remain.
India receives about 56% of its remittances from migrants in West Asia, with the remainder
from mainly North America and Europe.
Rapid changes in the economy and the sociopolitical climate in West Asia have had an impact
on remittances
Additionally, developments such as Brexit and the Trump presidency in the U.S. have
further complicated matters.
Declining oil prices and sluggish regional economies, the regional governments decided to
prioritise •filling their workforce with their nationals.
In 2011, the Saudi government enacted “Saudisation”, or Nitaqat system in Arabic, with a
view to reducing unemployment
Poorer nation can rely on remittances for its development needs and to achieve the SDGs
Kerala’s remittance economy
It is not unfair to say that without remittances, Kerala would have had to adopt an entirely
different economic growth path
Decrease in migration is expected to result in a similar decrease in remittances to the State
Return emigrants account for 1.2 million of Kerala‟s population.
The State thus faces the huge challenge of reintegrating and rehabilitating them into society
and the economy.
India Migration Survey 2020 will explore these issues and evolve adequate policy responses.
Prelims Focus Facts-News Analysis
Page-1- Canada will not support separatists, says Trudeau
Page-1- Kamal‟s party to focus on a new south India
Makkal Needhi Maiam (People‟s Justice Centre)
Blockchain tech could help prevent frauds like at PNB
Given the distributed ledger technology‟s potential to improve monitoring, SBI has adopted it
in its reconciliation systems, payment gateways
„NITI Aayog preparing new list of sick PSUs‟
Rare creatures found in ocean abyss
The haul collected o•Australia is to be studied by scientists this week