MPs Pay Hike: The Central Government has officially notified a hike in the salary, daily allowance, pension, and additional pension of Members and Ex-Members of Parliament, effective from April 1, 2023. This change is made possible by the Salary, Allowances, and Pension of Members of Parliament Act, 1954, and takes into account the Cost Inflation Index outlined in the Income-tax Act, 1961.
MPs Pay Hike: Revised Payouts
Salary: The monthly salary for Members of Parliament has been raised from Rs 1,00,000 to Rs 1,24,000.
Daily Allowance: The daily allowance has been increased from Rs 2,000 to Rs 2,500.
Pension: The monthly pension for Members and Ex-Members of Parliament has been revised from Rs 25,000 to Rs 31,000.
Additional Pension: Ex-Members will also see a surge in the additional pension for each year of service, from Rs 2,000 to Rs 2,500.
ALSO READ: Savitri Jindal To Vinod Rai Gupta – Who Are The Top 5 Richest Indian Women? Details Inside
