People earning more than 1 crore rises in AY 2023-24: The names of many Indians are included among the richest people in the world. It stars Mukesh Ambani and Gautam Adani. The people of India are expected to become better off due to increase in income.
Parliament Budget Session 2024 Indians earning more than Rs 1 crore annually increased: India’s economy is growing rapidly. Besides, the number of rich people is also increasing. It is true that the gap between poverty and wealth is also increasing. The rich are becoming even richer. At the same time, there is a large section which is yearning for basic facilities like livelihood, clothing and house. Meanwhile, the Central Government has informed the Parliament about the number of Indians earning more than Rs 1 crore annually. Minister of State for Finance Pankaj Chaudhary has given this information during the budget session of Parliament. This data shared by the government has been calculated by evaluating the number of people filing income tax returns.
According to the government, the number of Indians earning more than Rs 1 crore has increased to 2 lakh 16 thousand in the year 2023-24. Whereas in the assessment year 2019-20, only 1.09 lakh people earned more than Rs 1 crore. The number of Indians earning more than Rs 1 crore in 2022-23 was 1 lakh 87 thousand. It is clear from government figures that the number of Indians earning more than Rs 1 crore is continuously increasing.
The Minister of State for Finance informed that the total number of persons reporting income from ‘Profession’ in AY 2023-24 is 12,218, which is higher than 10,528 reported in AY 2022-23. In 2019-20, the number of people declaring income from ‘profession’ was 6,555.
10 crore Indians will become rich
Let us tell you that the income of Indians is increasing rapidly due to which their standard of living is also increasing. In a recent Goldman Sachs report, it was said that 10 crore people of India will become rich within three years. After just a few years, 10 crore Indians will be earning Rs 8 lakh 30 thousand annually. Only 14 countries in the world have a population of more than 10 crores. This figure of 10 crores is 4 percent of India’s population because India’s population is very large.
Who will benefit more?
The middle class of the country is becoming richer. India has become the 5th largest economy in the world. Many companies will benefit from the increase in the income of Indians. People will spend more money on luxury goods, health, jewellery, eating out, packaged food, cars, fashion and real estate. This will affect everything from luxury goods to the stock market. Production will increase and the country will progress.
How many cars were sold in 10 years
Indians have bought 21 crore cars in just 10 years. In the 10 years before 2023, Indians had purchased only 13 crore vehicles. There has been an increase of Rs 8 crore. India’s economy is performing very well. Sales of electric vehicles are also increasing.