Kerala, which accounts for 2.5 mn migrants in the Gulf region, may see a 15% drop in remittances ERNAKULAM : The covid-19-led crisis has sucked the lifeblood out of Kerala’s remittance economy, with Gulf nations struggling to accommodate migrant workers following a demand slowdown due to the global pandemic and the consequent crash in oil prices.

The World Bank has predicted that non-resident Indian (NRI) deposits into the country will fall 23% this week—the sharpest decline in recent history—and Kerala, which receives over ₹1 trillion in remittances, may be the worst hit among states.

The projected fall is largely due to a fall in the wages and employment of migrant workers, who tend to be more vulnerable to loss of employment and wages

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United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0

Pandemic, oil crisis to take a toll on Kerala’s remittance economy

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