CURRENT AFFAIRS

Detailed explanation-1: -In fact, Singapore has been the leading contributor to India in terms of country-wise foreign inflows for the past five years, starting from 2017-18. The island nation contributed $12.2 billion in 2017-18, $16.2 billion in 2018-19, $14.7 billion in 2019-20 and $17.4 billion in 2020-21 to India’s foreign inflows.

Detailed explanation-2: -Foreign direct investment (FDI) in India increased by about 3 per cent to $61.96 billion in 2017-18 on account of steps taken by the government to improve business climate and liberalised policy norms. FDI inflows stood at $60 billion in the previous fiscal.

Detailed explanation-3: -The correct answer is Services Sector.

Detailed explanation-4: -The main sectors that received maximum foreign inflows in the last fiscal include services (USD 6.7 billion), computer software and hardware (USD 6.15 billion), telecommunications (USD 6.21 billion), trading (USD 4.34 billion), construction (USD 2.73 billion) automobile (USD 2 billion) and power (USD 1.62 billion) .

Detailed explanation-5: -In the first half of 2017, the United States was the largest recipient of FDI inflows worldwide (at USD 161 billion), followed by Switzerland (USD 61 billion) and China (USD 55 billion).