Sugar-Many Props

February 28, 1981 remittances had more or less reached a plateau around the annual rate or about Rs 2,500 crore. There were dire predictions that the increases in oil price, particularly the increase in the wake of the Gulf war, were going to cause a drop dent in the country's foreign exchange reserves built up over the years. However, now we are told in an official press release that inward remittances in 1980 are likely to be actually around Rs 4,500 crore, i e $ 5,500 million approximately.