Fig 1.
Total remittance earnings (FY19 -FY 24) [6].
Fig 2.
Remittance as % of GDP [6].
Fig 3.
Remittance as % of export earnings [6].
Fig 4.
No effect of the intervention.
Fig 5.
Immediate effect of the intervention.
Fig 6.
Sustained effect of the intervention.
Fig 7.
Immediate and sustained effect of the intervention.
Fig 8.
Plot of step function.
Fig 9.
Plot of ramp function.
Table 1.
Coefficients of models for chow test.
Fig 10.
Seasonal decomposition of the total remittance (Worldwide).
Fig 11.
Observed and model predicted values in absence of the policy intervention (Worldwide/total).
Fig 12.
Observed and model predicted values in absence of the policy intervention (Middle east).
Fig 13.
Observed and model predicted values in absence of the policy intervention (Southeast Asia).
Fig 14.
ARIMA model- predicted values and observed values in absence of the policy intervention (USA and UK).
Fig 15.
The residual of ARIMA (5,1,0) × (0,1,0)12 fitted with total remittance inflow.
Fig 16.
The residual of ARIMA (5,1,1) × (1,1,1)12 fitted with middle east remittance inflow.
Fig 17.
The residual of ARIMA (3,1,0) × (0,1,1)12 fitted with south-east Asian remittance inflow.
Fig 18.
The residual of ARIMA (4,1,0) × (1,1,0)12 fitted with USA and UK remittance inflow.
Table 2.
Ljung box test interpretation.
Table 3.
Summary statistics of the impact of policy intervention in total and region-wise remittance inflows.