Two plus two equals whatever when it comes to wealth in India

The Indian nation is feeling good. Real good. The "Modi Effect" seems to be better than the "Axe Effect". If one has money who needs a deo to attract the "honey"; and everyone seems to have suddenly become richer with the markets jumping up 25% in under a month.

A table on Global Wealth caught my eye. It says India with 175,000 US$ millionaire households and 248,000 households with wealth of over US$ 100 million - the super rich or Ultra High Net Worth (UHNW) households is ranked 15th  and 13th on the global scale.

I don't have an issue with the second statistic but I think the former has missed a one or two in front of the 175,000 figure. Going by what I have observed and/or heard and/or read - everyone in India behaves like a dollar millionaire. Don't believe me - just walk into an exclusive brand showroom or of a luxury car brand. Simpler, just take a flight or a stay in a hotel. I think India has over a million or two households with an investable net worth exceeding US$ one million. If one includes some rich non tax paying farmers (agro income exempt from personal income tax); the figure would jump to nearly ten million millionaires I assume. In a Country of 1.2 billion + people; the figure would still remain under 1% of the total population.

But then, why are there only 43,000 tax pay payers paying a tax of over Rs. 1 million (US$ 15,000) per annum? It just does not add up.