Q. Consider the following statements:
1.India is among top five countries in receiving remittances.
2.There has been a decline in the percentage of remittances received from five Gulf Cooperation Council countries in India
Select the correct statements using the codes given below:

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: C

Explanation –

Statement 1 and 2 are correct. According to the World Bank’s report the top five countries receiving remittances are India ($100 billion), followed by Mexico ($60 billion), China ($50 billion), the Philippines ($38 billion) and Egypt ($32 billion). The report also highlights that there has been a shift in remittances. The remittances from the U.S., U.K. and Singapore have increased from 26% to 36% while the share from five GCC countries dropped from 54% to 28%.

Source: The Hindu