Individuals Reporting ₹100 Crore-Plus Income Rise Four-Fold to 576 in 5 Years: Govt.

The number of individuals declaring Gross Total Income (GTI) of at least ₹100 crore increased substantially during the five-year period ending Assessment Year (AY) 2025–26, according to information presented by the government in Parliament.

Minister of State for Finance Pankaj Chaudhary stated that 576 individuals reported GTI of ₹100 crore or more in AY 2025–26. This represents a more than four-fold increase from the 142 individuals recorded in AY 2021–22.

The assessment year-wise figures were:

• AY 2021–22: 142 individuals
• AY 2022–23: 301 individuals
• AY 2023–24: 284 individuals
• AY 2024–25: 415 individuals
• AY 2025–26: 576 individuals

The data indicate an overall upward trend despite a temporary decline in AY 2023–24.

The minister clarified that the term “billionaire” does not have a statutory definition under either the Income-tax Act, 2025 or the erstwhile Income-tax Act, 1961. Consequently, the government uses income-tax return data relating to individuals reporting GTI of ₹100 crore or more as a measurable income category.

The government does not maintain consolidated information on taxpayers’ total wealth. The minister attributed this to the abolition of the Wealth-tax Act, 1957, with effect from April 1, 2016.

Economic Inclusion Indicators

The parliamentary response also cited improvements in certain indicators of economic inclusion. Data from the Household Consumption Expenditure Survey 2023–24 showed that the Gini coefficient declined:

• In rural areas, from 0.266 in 2022–23 to 0.237 in 2023–24.
• In urban areas, from 0.314 to 0.284 during the same period.

A lower Gini coefficient generally indicates a more equal distribution of consumption, income or wealth.

The unemployment rate among individuals aged 15 years and above also declined from 3.6% in 2022 to 3.1% in 2025. The government additionally referred to NITI Aayog estimates indicating a significant reduction in multidimensional poverty over the past decade.

According to the minister, inclusive growth measures continue to include progressive income-tax rates, employment-linked incentives, assistance for start-ups and cooperative institutions, and welfare initiatives covering housing, healthcare, financial access, skills and rural livelihoods. CA Sansaar