The notification, issued by the Ministry of Parliamentary Affairs, also increased the daily allowances for sitting members
The Centre on Monday announced a revision in the salary, pension and additional pension of Members of Parliament (MPs) and Ex-Members of Parliament notifying a 24 per cent hike in the salaries of the current MPs.
The notification, issued by the Ministry of Parliamentary Affairs, also increased the daily allowances for sitting members and pension and additional pension for every year of service over five years for former members.
The increase in the salary has been notified in the exercise of the powers granted under the Salary, Allowances and Pension of Members of Parliament Act based on the Cost Inflation Index specified in the Income Tax Act of 1961.
Here are the revised benefits for MPs:
- Salary: The monthly salary for MPs has been increased from ₹1,00,000 to ₹1,24,000.
- Daily Allowance: The daily allowance has been raised from ₹2,000 to ₹2,500.
- The pension for former members of Parliament has been increased from ₹25,000 per month to ₹31,000 per month.
- The additional pension for every year of service over five years has been increased from ₹2,000 per month to ₹2,500 per month.