I often wondered how Non Resident Indians (NRIs) are given many facilities in India .Some of the good examples are - NRI Account , NRI Quota for Professional Education etc. As far as I understood ( At this point , let me be very clear that , this is my own observation , which may be incorrect ) NRIs bring in the foreign currency or in general money to our Country. They are the backbone of the Financial system in this country.
I keep on thinking on this again and again. If NRIs bring (send) money to banks of our country, this money can be used in the market for business. But this leaves a question- How the earning Indian is different from an NRI. He/she also earns and deposit his earnings in bank. But former enjoys a better interest rate, an account where source of money need not be disclosed.
Consider the case - an NRI who earns less than that of a Professional who works in India , the later pays a flat income tax of 30% to Indian Govt. (I am not denying that the NRI pays tax to foreign Govt) . But from the Govt side , the later contributes better to the countries growth.
At the same time, he does not have the benefit of higher interest rate accounts, nor any quotas, nor any Open forum for protecting rights ( remember the recent job cut in gulf countries) etc.
Not sure whether this is discrimination or not!
I keep on thinking on this again and again. If NRIs bring (send) money to banks of our country, this money can be used in the market for business. But this leaves a question- How the earning Indian is different from an NRI. He/she also earns and deposit his earnings in bank. But former enjoys a better interest rate, an account where source of money need not be disclosed.
Consider the case - an NRI who earns less than that of a Professional who works in India , the later pays a flat income tax of 30% to Indian Govt. (I am not denying that the NRI pays tax to foreign Govt) . But from the Govt side , the later contributes better to the countries growth.
At the same time, he does not have the benefit of higher interest rate accounts, nor any quotas, nor any Open forum for protecting rights ( remember the recent job cut in gulf countries) etc.
Not sure whether this is discrimination or not!
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