Identify the INCORRECT statement regarding foreign direct equity investments in FY 2024 based on DPIIT data.
1
Foreign direct equity investments in India fell to a five-year low of $44.42 billion in FY24.
2
India received the highest FDI from Singapore in FY 2024.
3
One of the major reasons for the decline is the lower interest rates in advanced economies.
4
Maharashtra received the highest FDI at $15.11 billion in FY 2024, although inflows declined 2% compared to the previous year.
5
The Computer Software and Hardware sector received the highest FDI at $7.97 billion in FY 2024, but it was a 15.1% decline YoY.