The $50 billion question : Devesh Kapur

India is more vulnerable than it appears. Most of what RBI calls remittances could be disguised capital flows

……..Unfortunately, while there are growing concerns about the quality of NSS data, at least they are put out in the public domain for researchers to use, scrutinise and criticise. The RBI’s data is, however, treated as sacrosanct with little outside scrutiny. If transparency is the best disinfectant, it is amazing just how little India is willing to carefully look at the sources of the $50 billion inflows that the RBI calls “remittances”.

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