Complete number of Indians acquiring over Rs 1 crore/year in 75 years of autonomy: There were in excess of 76 lakh people having pay between Rs 10 lakh and Rs 1 crore in the Assessment Year 2021-22
India has made some amazing progress since its Independence in 1947. In these 75 years of opportunity, India has tasted financial achievement and arisen as quite possibly of the most encouraging and quickly developing country. As far as individual salaries likewise, there has been a significant development as additional Indians are presently having a sound month to month pay than, say, twenty years back.
The rising abundance of people is likewise reflected in the rising number of Income Tax filers in the country. Till 31 July 2022, a greater number of than 5.8 crore personal expense forms (ITRs) were petitioned for Assessment Year 2022-23. In any case, when contrasted with the general populace of the country, the absolute number of duty filers in the nation is extremely less. The Government has been attempting to carry an ever increasing number of individuals into the duty net through different procedures.
The Government doesn’t formally keep up with the information on the pay of families. Be that as it may, according to the Department of Revenue information, there were in excess of 76 lakh people having pay between Rs 10 lakh and Rs 1 crore in the Assessment Year 2021-22. In the past evaluation year, the quantity of such people was more than 72 lakhs.
There are relatively few crorepatis in the country. According to the authority information, the quantity of people having pay above Rs 1 crore in AY 2021-22 was only 1,31,390. The quantity of such people in the earlier year was 1,25,023.
Indian earning Rs 10 lakh to 1 crore and more than 1 crore each year:-
Source: Rajya Sabha
The Government has gone to a few lengths to resolve the issues of destitution and imbalance.
“Government has made a few designated mediations to resolve the issues of destitution and imbalance and moderate the unfavorable effect of the pandemic on the lives and jobs of individuals, especially the weak segments of the general public,” the Union Minister of State for Finance Pankaj Chaudhary as of late said in a composed answer to a question in the parliament.
In FY 2020-21, Central Government reported an exceptional financial bundle of Rs.29.87 lakh crore under Atma Nirbhar Bharat (ANB), measures declared by RBI, and PM Garib Kalyan Yojana to battle the effect of the COVID-19 pandemic, to resuscitate monetary development and to support work.
“The bundle included, among others, in-kind (food; cooking gas) and money moves to weak segments; protection inclusion for laborers in the medical services area; business arrangement measures for traveler laborers under Pradhan Mantri Garib Kalyan Rojgar Abhiyaan, expanded distribution under MGNREGS, credit assurance and value implantation based help measures for MSMEs and NBFCs and administrative and consistence measures, among others,” Chaudhary said.