Remittance: Means of Income for Developing Countries

Abstract

Developing countries’ economies mainly dependent upon remittnaces. Every year a large number of migrnats leave their native countires and move to different detinations far and wide. This research paper highlights the relationship between the economy of developing countires and flow of remittances. Through this research an attempt has been made to prove an overview over the flow of remittnaces which is very important tool to enhance the finance and economy of low- income and middle income countires. It has also discussed the mechenism of remittances, innovations in the system and the impact of remittances on the economies.