Explanation:

More than six lakh Indians renounced citizenship in the past five years, the Ministry of Home Affairs (MHA) informed the Lok Sabha.

• In 2017, 2018, 2019 and 2020, the number of Indians who gave up citizenship stood at 1,33,049, 1,34,561, 1,44,017 and 85,248, respectively. This year, till September 30, 1,11,287 Indians gave up their citizenship.
• The reason for a large number of Indians surrendering their citizenship was not stated in the reply.
• Though, in 2018, the MHA revised Form XXII under Citizenship Rules for declaration of renunciation of citizenship, which, for the first time, included a column on “circumstances/reasons due to which applicant intends to acquire foreign citizenship and renounce Indian citizenship”.

Recently, the MHA had simplified the process and provisions were made for the applicants to upload documents online and an upper limit of 60 days was fixed for the renunciation process to be completed.

• According to a Global Wealth Migration Review report, in 2019, India came second only to China when it came to high net worth individuals (HNIs) leaving the country. As many as 7,000 HNIs left India in 2019.

Hence both statements are correct.