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In 2015, India was the top receiver of remittances (people living in other countries sending money...

In 2015, India was the top receiver of remittances (people living in other countries sending money back home to India) at $72.2 billion.
Assume that $10 billion of this came from people living in the U.S. For India, this would result in
A.) A positive entry in the Financial Account
B.) A positive entry in the Capital Account
C.) A negative entry in the Financial Account
D.) A negative entry in the Capital Account

explain
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Answer #1

Remittances add to the balance of account of a country positively because they are increasing the money coming in the country. Indians sending remittances from abroad back to India will be a financial transaction recorded as a positive entry in the financial account. ANSWER: A

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