576 Indians report income over ₹100 crore in FY26, MoS tells Lok Sabha
The government reported that 576 Indians declared incomes exceeding ₹100 crore in FY26, a fourfold increase in billionaires over five years, according to MoS Pankaj Chaudhary.
576 Indians report income over ₹100 crore in FY26, MoS tells Lok Sabha
Minister of State for Finance Pankaj Chaudhary informed the Lok Sabha that 576 individuals reported gross total incomes exceeding ₹100 crore in FY26, based on income-tax filings. This marks a fourfold growth in the number of billionaires in India over the past five years. The minister was responding to a query about the significant increase in high-net-worth individuals. The data reflects a broader trend of wealth concentration in the country’s top income brackets.
Number of Indians Earning Over Rs 100 Crore Crosses 500
The number of individuals who reported a gross total income of at least Rs 100 crore has crossed 500 in Assessment Year 2025-26, up 39% from the previous year, according to the Ministry of Finance. The finance ministry data showed that the number of rupee billionaires has quadrupled in four years to 576 from 142 in AY 2021-22.
Number of individuals reporting ₹100 crore-plus income rises to 576
The government told the Lok Sabha that the number of taxpayers reporting gross total income of ₹100 crore or more has quadrupled since assessment year 2021-22.