Five of the richest families in India saw their wealth increase by 400% between 2019 and 2025, said a study published on Wednesday.

The study, titled Wealth Tracker India 2026 and released by non-profit organisation Centre for Financial Accountability and Tax The Top campaign, also noted that a progressive wealth tax imposed on the top 1,688 ultra-rich individuals in the country can generate more than Rs 10 lakh crore for welfare.

It categorised the ultra-rich as those who hold a net worth of more than Rs 1,000 crore.

The wealth share of the bottom 50% stagnated at 6.4% by 2024, according to the study.

“India is witnessing inequality at levels that are comparable to colonial times,” it added. “The country’s richest 1% control over 40% of the national wealth.”

The study said that the cumulative wealth of the ultra-rich in the country has surpassed Rs 166 lakh crore, which is nearly 50% of India’s Gross Domestic Product.

It argued that a 2%-6% progressive tax on the 1,688 ultra-rich families possessing over Rs 1,000 in wealth and an additional one-third inheritance tax imposed on them could enable the country to spend Rs 10.6 lakh crore annually on welfare schemes.

The benefits could include immediately increasing health and education spending by 1% each of...

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