Govt Increases Salary, Allowance For MPs, Former MPs. Check Revised Income
While the monthly salary of the MPs have been increased from Rs 1 lakh to Rs 1.24 lakh, the daily allowance has been increased from Rs 2,000 to Rs 2,500 on the basis of the Cost Inflation Index.
The centre on Monday officially notified an increase in the salary and other allowances of the Members of Parliaments (MPs) and former MPs, effective from April 1, 2023.
While the monthly salary of the MPs have been increased from Rs 1 lakh to Rs 1.24 lakh, a rise of 24-per cent, the daily allowance has been increased from Rs 2,000 to Rs 2,500 on the basis of the Cost Inflation Index.
The monthly pension for MPs and former MPs as been revised from Rs 25,000 to Rs 31,000. The revision is based on the Cost Inflation Index under the Income-tax Act, 1961.
Though the government notification was issued on March 21, the revised salary and allowances will be applicable from April 1, 2023.
"In exercise of the powers conferred by sub-section (2) of section 3 and sub-section (1A) of section 8A of the Salary, Allowances and Pension of Members of Parliament Act, 1954 (30 of 1954), the Central Government hereby notifies the increase in the salary, daily allowance, pension and additional pension of Members and Ex-Members of Parliament on the basis of Cost Inflation Index specified under clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), with effect from the 1st April, 2023," a government statement said.
Moreover, the extra pension granted for each year of service beyond five years has been revised from Rs 2,000 to Rs 2,500 per month.
The increase in the salary has been notified in exercise of the powers granted under the Salary, Allowances and Pension of Members of Parliament Act on the basis of the Cost Inflation Index specified in the Income Tax Act of 1961.
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