On Monday, the Central Government has officially notified an increase in the salary, daily allowance, pension and additional pension of Members and Ex-Members of Parliament, effective from April 1, 2023.
The change is made in the exercise of the powers granted by the Salary, Allowances and Pension of Members of Parliament Act 1954 and is based on the Cost Inflation Index as outlined in the Income-tax Act, 1961.
The revised payouts are such as:
- Salary: The monthly salary for Members of Parliament has been increased from Rs 10,000 to Rs 1,24,000.
- Daily Allowance: The daily allowance has been raised 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 an increase in the additional pension for each year of service, from Rs 2,000 to Rs 2,500.
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