Sangsad Bhaban: Aiming to achieve 2 percent growth in remittance inflow in the next fiscal year, the government has taken different steps, including reducing the cost of remittance transfer, improving the remittance management efficiency of 42 overseas banking units and exchange houses, fore increasing remittance.

Some other steps include strengthening drawing arrangement between Bangladeshi banks and the local banks of the countries where expatriates are working and motivating the workers to remit through Probashi Kallyan Bank (Expatriates Welfare Bank).

Finance Minister AMA Muhith unveiled the plans while placing the national budget for 2017-18 fiscal year in Parliament on Thursday.

"Bangladesh is one of the top remittance recipient countries in the world. According to a BBS study, the families of Bangladeshi expatriates received Tk 3.02 lakh on average in 2015. Twenty-five percent of this remittance was invested in different sectors," he said.

Besides, the minister said, remittance inflows play a crucial role in boosting GDP growth by increasing consumption expenditure. "Considering its importance in economic development of the country, we have undertaken the measures to increase remittances."

Muhith said there is a ray of hope in the projection of international organisations that global remittance inflows to developing countries will likely recover in 2017 and achieve 2 percent growth. "I firmly believe all these initiates together with increasing trend of global growth will have positive impact on our remittance inflow."