CURRENT AFFAIRS

Detailed explanation-1: -India had received $89.4 billion in remittances in 2021, according to the World Bank, making it the top recipient globally last year.

Detailed explanation-2: -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-3: -The US has surpassed the UAE as the top source of remittances to India, with its share rising to 23.4 percent in 2021 from 22.9 percent in 2017.

Detailed explanation-4: -In 2021, India was the country with the largest inflow of remittances worldwide. That year, Indians abroad sent the equivalent of 89.4 billion U.S. dollars in remittances. Mexico followed, with remittances amounting to a total of 54.1 billion U.S. dollars.

Detailed explanation-5: -India is expected to receive a whopping $100 billion in remittances in 2022, according to the World Bank’s latest ‘Migration and Development Brief’. It noted that remittances to India, the world’s biggest recipient, stood at $89.4 billion last year and will grow at 12 per cent in 2022.