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What has been a significant source of income for Kerala, contributing to its economy and development?

AHeavy industry

BAgricultural exports

CRemittances from Keralites working abroad

DTourism

Answer:

C. Remittances from Keralites working abroad

Read Explanation:

Remittances from Keralites working abroad

  • Kerala has a long history of people from the state seeking employment opportunities abroad, particularly in Gulf countries such as Saudi Arabia, the UAE, and Qatar.
  • Keralites have been migrating to these regions for decades in search of better job prospects and higher wages.
  • Around 3,000,000 Keralites are working abroad, mainly in Persian Gulf; to where migration started with the Gulf Boom
  • Therefore the Keralite diaspora working abroad is substantial in number, and many Keralites have established themselves in various professions and industries.
  • They work in sectors such as construction, healthcare, IT, hospitality, and more.
  • Keralites working abroad send a significant portion of their earnings back to their families in Kerala.
  • These remittances are often sent on a regular basis and serve as a crucial source of financial support for families in Kerala.

Economic Impact of these remittances:

  • The inflow of remittances into Kerala has a substantial economic impact.
  • It contributes to increased household incomes, improved living standards, and enhanced access to education and healthcare for many families in the state.
  • Remittances have been used for various developmental purposes, such as building houses, investing in small businesses, and funding education and healthcare expenses.
  • They have played a role in reducing poverty and supporting economic stability in the state.
  • The influx of remittances has also led to economic diversification, with investments in sectors like real estate and small-scale entrepreneurship.

Related Questions:

The economy of Kerala state can be divided into three phases. Which of the following statements are correct regarding the State of economy during the first phase (1956-1975)

  1. State moved to a higher level of economic growth
  2. Agricultural sector remained backward, with low productivity levels
  3. Expansion of public sector through public investment with limited resources
  4. The techno-economic survey estimated the unemployment rate as 13% in 1956
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