AS MANY as 576 individuals have reported a gross total income of Rs 100 crore or more in their income tax returns in the 2025- 26 assessment year, registering a 4-fold growth over the past five years, Parliament was informed on Monday. This was stated by Minister of State for Finance Pankaj Chaudhary in the Lok Sabha in reply to a question on whether the Government is aware that there has been a significant increase in the number of billionaires in the country and that it is among the leading nations in the world in this regard. In a written reply, Chaudhary said there is no statutory definition of the term ‘billionaire’ either under the Income-tax Act, 2025 or under the erstwhile Incometax Act, 1961. However, the number of individuals having reported gross total income of Rs 100 crore or more in the Income-tax Returns (ITRs) filed in Assessment Year (AY) 2025-26 stood at 576. This is a sharp 4-fold spike from 142 reported in AY 2021-22. The number of individuals with gross total income of Rs 100 crore and above was 301 in AY 2022-23, dipping to 284 in AY’24, before rising to 415 in AY’25. To another question on whether the Government has conducted any study regarding the impact of the increasing concentration of income and wealth on income inequality, investment, employment generation and inclusive economic growth, Chaudhary said the Annual Periodic Labour Force Survey (PLFS) report showed that labour markets have recovered beyond pre-COVID levels in both urban and rural areas.

 

‘No proposal for one-time waiver of loans of small, marginal farmers’ THE Government has no proposal for a one-time waiver of loans of small and marginal farmers, Parliament was informed on Monday. To provide relief to borrowers in distress, the Reserve Bank of India has issued Master Direction on Resolution of Stressed Assets, 2025 dated November 28, 2025 (updated as on July 1, 2026) which provides lenders the discretion to undertake financial restructuring of borrowers under stress, based on their Board approved policies and regulatory guidelines, Minister of State for Finance Pankaj Chaudhary said in a written reply to the Lok Sabha. “No proposal for onetime waiver of loans of small and marginal farmers is currently under consideration with the Union government,” he said in reply to a question whether the government proposes to consider a one-time waiver or restructuring of loans to small and marginal farmers. ESIC extends ABVKY till June 30, 2027 THE Employees’ State Insurance Corporation (ESIC) has approved the extension of the Atal Beemit Vyakti Kalyan Yojana (ABVKY) from July 1, 2026 to June 30, 2027, Parliament was informed on Monday. Under the scheme, unemployment relief payment of 50 per cent of wages for up to 90 days is provided once in a lifetime to the insured person under the ESI scheme of the ESIC. The ESIC has approved extension of the ABVKY from July 1, 2026 to June 30, 2027, the Minister of State for Labour & Employment Shobha Karandlaje said in a written reply to the Lok Sabha on Monday.

 

The eligibility criteria to avail benefit under the scheme provide that the insured person must be in insurable employment for a minimum period of 12 months immediately before his/her unemployment and should have contributed for not less than 78 days in one completed contribution period in 12 months immediately preceding unemployment. The unemployment must not arise from misconduct, during lockout, superannuation, or conviction for false statement under the provisions of the ESI Act, 1948. There is no delay in probe into Air India Boeing crash: Govt THE Ministry of Civil Aviation informed Parliament on Monday that there has been no delay in the investigation into the Air India Boeing Dreamliner crash at Ahmedabad airport and the inquiry “is progressing as per established procedures.” The investigations into major aviation accidents depend on several factors and involve multiple variables, making it impossible to specify a fixed timeline for the final report, the ministry said in a written reply to a question in the Upper House.

 

“The timeline for completing a major air accident investigation cannot be predicted,” the Ministry’s statement said. It also said that all probable causes and contributing factors leading to the accident are being investigated, indicating that the probe remains comprehensive and no conclusions have been reached so far. The Ministry further informed the Rajya Sabha that the inspection of the complete Thrust Control Module at the original equipment manufacturer’s (OEM) facility is underway as part of the ongoing investigation. The Ministry of Civil Aviation had earlier, in a reply, also stated in Parliament that the Aircraft Accident Investigation Bureau (AAIB) is “transparently” conducting its investigation into the Air India Boeing crash on June 12 last year and “all probable causes leading to the accident are being investigated.”