ITR filing in India shows interesting data when compared with 2014vs 2024
4x jump in 1Cr+ bracket Nearly 5x jump in 50lacs+ earners 6x increase in 20-50LPA 6x jump in 10-20LPA 6x increase in 5-10LPA range But a meagre 2x jump in 2.5 to 5LPA And surprisingly a drop in 0-2.5 LPA
An Indian earning 10LPA+ puts him in top 1.5% Indians 🤯
Data suggests overall increase in earnings but higher concentration at top end salaries. Although the base has widened, but significantly slower compared to top range, suggesting concentration of wealth
Source: Finshots
I count 8cr people filing ITR. What about the remaining 137cr people.
Chaiwala ❌
Pakodewala❌
XYZ thelawala ❌
Farmers and Agri labour ❌
Skilled labour ❌
Daily wage labour ❌
This forms majority of earning class. Either their earning is too low or its exempted or unreported.
Considering the 6-7% inflation and 8-10% annual increments, doubling of income in 10 years adds up. But that should come up to 2x increase rather than 6x increase in high income. So inflation does have a contribution, but higher investments in certain sectors and more businesses making money should lead to higher income. Absolute numbers for extremely high income may seem small, but considering the wide gap, its a significant jump
While the starting salaries and salaries at <10 yoe have really sky rocketed and this is good for the ecosystem, wanted to understand what happens to salaries in tech/product post 15 yoe+.
I’m curious about this especially because it d...
I definitely should earn 53LPA!
Recently I came across a report in ToI that said earning 80 K per month puts you at top 4% in India. Assuming that the stats is true, do you feel contended with what you earn?
So, you belong to a group of 6 crore people. Congrats.
The last I saw, to be in top 1% individual in terms of wealth, you needed to have assets worth $77k. This is from news article of 2020. Sharing link here - https://timesofindia.indiatimes.com/business/india-business/this-is-what-it-take...
