Centre announces 24 percent hike in MPs' salary from April 1, 2023

NEW DELHI: The central government has issued a notification regarding an increase in the salary and pension of Members of Parliament (MPs), effective from April 1. On Monday, the Centre released a notification announcing a 24 percent hike in MPs' salaries, which will come into effect from April 1, 2023.

According to the notification issued by the Ministry of Parliamentary Affairs, the daily allowance and pension of current members have also been increased. Additionally, an extra pension has been announced for former members for each year of service beyond five years.

As per the notification, MPs will now receive a monthly salary of Rs 1.24 lakh, up from the previous amount of Rs 1 lakh. It further states that the daily allowance has been raised from Rs 2,000 to Rs 2,500.

The pension for former MPs has been increased from Rs 25,000 per month to Rs 31,000 per month. The additional pension for each year of service beyond five years has been raised from Rs 2,000 per month to Rs 2,500 per month.

The salary increase has been implemented by exercising the powers granted under the Salary, Allowances, and Pension of Members of Parliament Act, based on the Cost Inflation Index as outlined in the Income Tax Act, 1961.

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