Number of Indian millionaires increased by 6 lakh in one year..?

Sowmiya Sriram
Number of indian millionaires increased by 6 lakh in one year..?

It is noteworthy that most of the income taxpayers filed their returns on July 31 while the last date for income tax filing has been announced by the Income Tax Department as July 31. However, some are still filing income tax with a penalty. According to the income of income tax filers, the number of income earners has increased by more than one crore in India.
According to the list of income tax filers in the financial year 2021-22, the number of millionaires in india is 1.31 lakh. According to the Union Finance Ministry, 1.31 lakh people reported in their income tax returns that they earned more than Rs 1 crore this year.
Similarly, it is noteworthy that the number of people who earned more than one crore annual income was only 1.25 lakh last year. Out of this, about 6 lakh people have joined the club of one crore earners this year. And according to the information given in parliament by the Union minister of State for Finance Pankaj Chaudhary in the 2020-21 financial year, the number of individuals with income between Rs.10 lakh and Rs.1 crore was 73 lakh.
But in the financial year 2021-21, the number of individuals with income between Rs 10 lakh and Rs 1 crore has increased to 77 lakh, he said. Most of this 77 lakh are expected to join the one-crore club next year.The number of entrepreneurs in india has been increasing over the past few years.
 A statistic says that especially young people start startup companies and make the company profitable in a few years, their annual income reaches one crore. According to the statistics, the number of millionaires is also increasing as the number of startups in india increases.
And it is said that the interest in working in companies in india has been decreasing among the youth for the last few years and the role of the youth in not only starting their own business and progressing in life but also in developing the economy of the country is very high. Economists are saying that the youth is the main reason for the increase in the number of indian millionaires.
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