New Delhi, July 13 -- The number of millionaires and high networth individuals (HNIs) is growing in India. In the last fiscal year, 5,012 people got a chance to enter the cosy club. It swelled the millionaire club of India to more than 871,000. You may gloat on these shimmering statistics, but many aspects of the same report leave you sad and dejected.

Income inequality is rising in the country, leading to exasperation among the middle class. For the uninitiated, HNIs are those who are still left with property or financial instruments worth $1 million or Rs.9.5 crore after meeting all their financial obligations. In fiscal year 2025 (FY25), this club swelled by 6%, which was comparatively less. Between calendar years 2021 and 2023, with ...