NEW DELHI, March 25: The Central government of India on Monday notified a 24 per cent hike in the salaries of members of Parliament, with retrospective effect from April 1, 2023. An MP (Lok Sabha and Rajya Sabha members) will now get Rs 1.24 lakh per month as salary as against Rs 1 lakh per month they received so far, according to a report by The Indian Express.
The calculation for the increase is done on the basis of the Cost Inflation Index.
Salaries and allowances of Speaker, Deputy Speaker withheld unt...
The Ministry of Parliamentary Affairs also notified an increase in the daily allowances for sitting MPs and pension and additional pension for every year of service in excess of five years for former members. MPs can draw daily allowances while attending Parliament sessions and meetings of parliamentary committees.
The notification said that the daily allowance has been hiked from Rs 2,000 to Rs 2,500, and the pension for former MPs from Rs 25,000 per month to Rs 31,000 per month. The additional pension for every year of service in excess of five years has been increased from Rs 2,000 per month to Rs 2,500 per month.
The last hike in salaries given to MPs was in February 2018-revised from Rs 50,000 to Rs 1 lakh.
Until February 2018, the Parliament had the power to pass laws to revise salaries of MPs. Then, through the Finance Act, 2018, Parliament amended the Salary, Allowances and Pension of Members of Parliament Act, 1954 to increase the salary, daily allowance, and pension of MPs every five years on the basis of the cost inflation index provided under the Income Tax Act.