- There were only 61 people who declared an income of greater than Rs 100 crore throughout assessment yr 2017-18, although the quantity has risen sharply from 38 within the earlier yr.
- This info was provided by minister of state for finance Pon Radhakrishnan to the Lok Sabha in a written reply on Friday.
- The number of people disclosing a gross total earnings of greater than Rs 100 crore in a yr in his/her return of income filed with the Income Tax (I-T) division was 24 in assessment yr 2014-15 and since then it has been steadily rising.
- that in a population of 1.3 billion Indians, simply 61 individuals incomes over Rs 100 crore is minuscule.
- There was no official or uniform definition of classification of an individual as ‘billionaire’.