The government announced on Monday a 24% increase in the salaries of Members of Parliament, effective from April 1, 2023, based on the Cost Inflation Index.
As per the notification issued by the Ministry of Parliamentary Affairs, there has also been a rise in the daily allowances for current members, as well as in the pension and additional pension for former members with more than five years of service.
After the adjustment, the monthly salary for an MP will now be ₹1.24 lakh, up from ₹1 lakh previously. Additionally, the daily allowance has been raised from ₹2,000 to ₹2,500.
For former MPs, the monthly pension has been increased from ₹25,000 to ₹31,000, while the additional pension for every year of service beyond the five-year mark has risen from ₹2,000 to ₹2,500.
This salary increase has been authorized under the Salary, Allowances and Pension of Members of Parliament Act, utilizing the Cost Inflation Index established by the Income Tax Act of 1961.
