1. Until 2019, India used to run trade deficits. This year, the spread of COVID-19 has reduced economic activity in the country and has led to a sharp drop in imports. This drop has been larger than the decline in India's exports, resulting in a small trade surplus this year. At the same time, the budget deficit of Indian government has widened, and private savings has remained unchanged, when compared to the past year. What must have happened to investment in India compared to last year?

1. a.Investment must have increased.
2. b.Investment must have decreased.
3. c.Investment must have remained unchanged.
4. d.Investment may have risen or declined, depending on the situation.