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Travel is the Top Reason Why Indians spend Money Overseas

Until last year, the top reason for remittances was Indians sending money abroad for maintenance of close reltives and for studies.

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Mumbai, April 26, 2017: For the first time, foreign travel has grabbed the spot of the number one reason why Indian individuals spend money overseas.

The top reason for remittances was Indians sending money abroad for study purposes or maintenance of close relatives even until last year.

These remittances are made under the Reserve Bank of India’s Liberalised Remittance Scheme which allows individuals to send up to $250,000 annually.

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Spending money on travel has ranked number three in the list of reasons for remittances for several years. But the current fiscal has witnessed a change in that.

According to TOI reports, in FY17 (up to February 2017), remittances towards travel increased 3.6 times to $2.3 billion, accounting for a third of total international spending by Indians. In FY16, the total amount spent on travel at $651 million, amounted to only 15% of the total remittances.

According to M. Hariprasad, senior VP and head of treasury at Centrum Direct, A good growth has been noticed in travel to destinations like Thailand, Dubai and other places in the Gulf. “A combination of affordable airfares and offers by intermediaries has brought international travel within the reach of a lot many people,” he added.

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In 2013 when the rupee went into a free fall, the forex remittance limit was brought down from $200,000 to $70,000. However, in May 2015 this limit was restored and then increased to $250,000.

The spending on travel has nothing to do with the relaxation of ceiling on forex remittances as average spending is only in thousands of dollars; Hariprasad mentioned.

More than the relaxation of forex limits, overseas travel appears to have been boosted by the firming up of the rupee. However, travel companies insist that the growth is only normal because there is a shift to direct spending through credit cards and online bookings.

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Total remittances by Indians have gone up from $4.3 billion in FY16 to $7 billion in FY17 (up to February), an surprising increase of 63%. On the other hand, Indians sending money abroad for purchase of immovable property has shrunk from $90 million in FY16 to $82 million. A marginal decline on spending for medical treatment purposes overseas from $17 million to $15 million has been spotted as well.

However, as data for March 2017 is not available yet, the numbers could still rise.

– prepared by Durba Mandal of NewsGram. Twitter: @dubumerang

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Copyright 2017 NewsGram

  • Yes. and this is true. We the Indians mostly spend when it comes to travel overseas. Maybe to get closer to the glamour or what.

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Is Chutney out of place in Carnival?

Chutney has been able to resist the domination of calypso as the heartbeat of Carnival music

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Chutney has been able to resist the domination of calypso as the heartbeat of Carnival music. Wikimedia Commons
Chutney has been able to resist the domination of calypso as the heartbeat of Carnival music. Wikimedia Commons
  • Chutney soca music is a crossover style of music incorporating Soca elements
  • The satire on Prime Minister Rowley’s mother has been arguably the most controversial song in the history of calypso, soca and chutney in the country.
  • It is the International Chutney Queen Competition to be held on February 2 at Guaracara Park in San Fernando, the second largest city in the country

By Dr Kumar Mahabir

When people get angry, they tend to speak their mind. Their emotions explode in words that they have been suppressing for some time. Psychologist Dr Jeffrey Huntsinger proved this theory after conducting experiments at Loyala University in Chicago in the USA in 2012.

Chutney Soca promoter George Singh really spoke his mind when he became upset on learning that his 2018 show was not funded by the National Lotteries Control Board (NLCB), an agency of the Afro-dominated Government in multi-ethnic Trinidad and Tobago  (T&T).

At a news conference which he convened, Singh said that “the decision by the Government not to support chutney soca was an insult to the art form” (Express 05/02/17).

George Singh is a Chutney Soca promoter. Wikimedia Commons
George Singh is a Chutney Soca promoter. Wikimedia Commons

Singh raged: “The Government, over the last three years, has consistently reduced funding to Chutney Soca Monarch and various members of the present administration have stated directly to me that chutney soca brings no value to Carnival” (emphasis added).

At the same news conference, Singh said that the Government had approved a budget of TT $146 million to the National Carnival Commission (NCC).

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“I think this administration is hell-bent on seeing that it [chutney soca] has no place in Carnival. It is a slap in the face to Indo-Caribbean entertainment,” he said.

Singh’s outburst was a public exposé of what the Indo-Trinidadian (Indian) community had always known i.e. Indian culture (e.g. chutney, pichakaree ) is given marginal or no space in “national” and regional shows (e.g. CARIFESTA).

Sing’s rant is more revealing since he has admitted that he has “family ties” to Attorney General Faris Al-Rawi (Express 27/12/17).

Carnival in Trinidad has long been the cultural preservation of the Afro-Trinidadian (African) community. Wikimedia Commons
Carnival in Trinidad has long been the cultural preservation of the Afro-Trinidadian (African) community. Wikimedia Commons

In all his anger, Singh was careful not to confirm what almost every Trinidadian suspected i.e. that Government initially denied him funding because he was allowing Massive to perform his hot chutney hit “Rowlee Mudda Count.”

The satire on Prime Minister Rowley’s mother has been arguably the most controversial song in the history of calypso, soca and chutney in the country.

I have always contended that chutney concerts, competitions, tents and fêtes must be recognised as part of Carnival and must be a given an equitable share of culture funds, media space and stage presence.

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My argument is contained in detail in a chapter entitled “Chutney Music in Carnival:

Re-defining National Identity in Trinidad and Tobago” in the book Caribbean Dynamics:

Re-configuring Caribbean Culture (2015). The book is edited by Drs Beatrice Boufoy-Bastick Savrina Chinien and published by Ian Randle in Jamaica.

In the chapter, I discussed how Carnival in Trinidad has long been the cultural preservation of the Afro-Trinidadian (African) community. To this day, the major players and champions of calypso, soca, extempo, steelpan and masquerade, whether in Jouvert (“Jour Ouvert”) or Dimanche Gras, remain participants of African descent.

The emergence of chutney music and artists in 1995 – when Basdeo Panday was elected as the first Indian Prime Minister of T&T – was historic. In 1996, the rendition of Sonny Mann’s runaway hit “Lotay La” by DJs in soca parties, and by steel bands as their Road Mach tune during Carnival signalled the advent of chutney into the national urbanized festival/centre.

Chutney is being strongly influenced by calypso and soca rhythms and dance styles. Wikimedia Commons
Chutney is being strongly influenced by calypso and soca rhythms and dance styles. Wikimedia Commons

In the following years, Indians continued to change the ontology of “the national festival” to the extent that Carnival has to be re-defined to include Chutney Monarch, Chutney Brass, Chutney Soca, Chutney Calypso, Chutney Glow and Chutney Mardi Gras.

For the first time this year, a new chutney show is being introduced to the Carnival calendar. It is the International Chutney Queen Competition to be held on February 2 at Guaracara Park in San Fernando, the second largest city in the country. The event is being hosted by Randy Glasgow Productions.

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Chutney is being strongly influenced by calypso and soca rhythms and dance styles, but the genre is also used as an alternative to the Afro-Creole music formats. There have been two institutionalised chutney calypso theatres: “D” Massive Gosine Roving Calypso/Chutney Tent and the National Chutney Calypso Touring Tent.  Now in its eighth year is the National Carnival Schools Intellectual Chutney Soca Monarch Competition held at the Queen’s Park Savannah in Port of Spain.

These chutney competitions cum fêtes allow Indians to gain a sense of inclusion in this grand “national” festival, although on the periphery of the capital city. These cultural incursions also allow Indians to actively participate in Carnival without losing their (sense of) ethnic identity.

Dr Kumar Mahabir is an anthropologist who has published 11 books
Dr Kumar Mahabir is an anthropologist who has published 11 books

In 1998, cultural critic Burton Sankeralli wrote: “Indians are claiming Carnival space as Indians…. [and] … The flagship of this Indocentric presence and contestation for space is chutney …” With the re-creation of chutney, Indian artists are refusing to be subjected to silence and invisibility on mainstream radio, television, newspaper and the stage.

Chutney has been able to resist the domination of calypso as the heartbeat of Carnival music. The subversive spirit of calypso and Carnival is perhaps being re-incarnated in chutney.

(Dr Kumar Mahabir is an anthropologist who has published 11 books)