The number of millionaires in India has increased by 67.6 per cent in the last five years, the Lok Sabha was informed on Wednesday.
Replying to written questions, Minister of State for Planning M V Rajasekharan said, citing data available with the income tax department, that the number of IT assessees (individuals) with income of Rs 10 lakh (Rs 1 million) and above was 91,877 in 2004-05 against 54,805 in 2000-01, which showed an increase of 67.6 per cent.
Referring to the World Bank's World Development Indicators 2006, the minister said the proportion of population living on less than $1 per day has declined to 34.7 per cent in 1999-2000 compared to 47 per cent in 1994.
Do you want to discuss stock tips? Do you know a hot one? Join the