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576 Indians Reported ₹100 Crore+ Income in AY 2025-26, up From 142 in 2021-22: Govt
The figure was up fourfold from 142 in AY 2021-22, and the minister said Indian tax law has no statutory definition of billionaire.
- On Monday, the Ministry of Finance informed Parliament that 576 individuals reported a gross total income of Rs 100 crore or more in Assessment Year 2025-26, a 39% increase from the previous year.
- Minister of State for Finance Pankaj Chaudhary clarified that Indian income tax law lacks a statutory definition for "Billionaire," with high-income earners quadrupling from 142 in Assessment Year 2021-22.
- According to the World Inequality Report 2026, India's inequality remains high, with the richest 10% holding around 65% of total wealth and the top 1% holding about 40% of total wealth.
- The Periodic Labour Force Survey showed that the unemployment rate for individuals aged 15 years and above decreased to 3.1% in 2025, supported by government measures including progressive tax structures.
- Researchers typically rely on finance ministry data released with a lag; the Ministry of Statistics and Programme Implementation is currently conducting the first-ever National Household Income Survey to improve income measurement.
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570 Indians earn over Rs 100 crore a year; number of billionaires up 300% in 5 years
India's highest-income taxpayers are growing at an unprecedented pace. The data shared by the Union Finance Ministry shows the number of individuals earning at least Rs 100 crore annually has surged by over 300% since 2021, even as the government says it does not maintain official data on the wealth of billionaires.
·Noida, India
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Total News Sources20
Leaning Left2Leaning Right7Center1Last UpdatedBias Distribution70% Right
Bias Distribution
- 70% of the sources lean Right
70% Right
L 20%
R 70%
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