India's Economic Boom: Every 5th Taxpayer Now Earns Over ₹30 Lakh Annually
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News18•07-01-2026, 15:20
India's Economic Boom: Every 5th Taxpayer Now Earns Over ₹30 Lakh Annually
- •ClearTax report reveals a significant surge in high-income earners in India, reflecting growing economic power.
- •Proportion of taxpayers earning over ₹30 lakh annually jumped from 18.49% in 2024 to 23.34% in 2025.
- •The 40-50 age group leads this trend, with 38% earning over ₹30 lakh, contributing significantly to tax revenue.
- •Diversified income sources, including businesses, side-hustles, and stock market investments, are driving this growth.
- •Young Indians, especially millennials, are adopting an 'investor mindset,' actively participating in markets and filing complex tax returns.
Why It Matters: India sees a significant rise in high-income taxpayers, driven by diversified earnings and an investor mindset.
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