Rs 100 cr club gets bigger: Number of nine-figure income filers quadruples in five years
The number of individuals in India reporting annual incomes of Rs 100 crore or more has quadrupled over the last five years, reaching 576 in the 2025-26 assessment year. The government maintains that this growth is accompanied by improvements in labor market conditions and inclusive economic policies.
Why it matters
The data provides a snapshot of wealth concentration in India and serves as a focal point for debates regarding income inequality and economic growth.
India's Rs 100 crore income club is no longer as exclusive as it once was. More people are reporting nine-figure incomes in their tax returns, with the number rising to 576 in the 2025-26 assessment year, four times the count recorded five years ago, according to data shared by the government in Parliament on Monday.The figures were provided by minister of state for finance Pankaj Chaudhary in a written reply in the Lok Sabha after he was asked whether the government had taken note of the growing number of billionaires in the country and India's standing among leading nations in this regard.In his reply, Chaudhary said that there is no statutory definition of the term "billionaire" under either the Income-tax Act, 2025 or the erstwhile Income-tax Act, 1961.
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