CURRENT AFFAIRS

Detailed explanation-1: -Over the last several years, many Indians have moved to high-skilled and well paid jobs in high-income countries, such as the US, UK and Singapore. Notably in 2021, India had received $89.4 billion in remittances, according to the World Bank report, which then made India the top recipient globally.

Detailed explanation-2: -The top five recipient countries for remittances in 2022 are expected to be India, establishing a benchmark of $100 billion in the year, followed by Mexico, with a tally of $60 billion (which replaced China in second position during 2021), and China, the Philippines, and the Arab Republic of Egypt.