Poonam Nath

Government notifies of 24% hike to MPs' salary, allowance, and pension effective April 1

Digital Desk: The Central Government has formally announced a 24% increase in members of Parliament's salaries (MPs), effective April 1, 2023. It has also announced a 25% increase in daily stipend and a 24% increase in pension for MPs and ex-MPs.

Following the circular from the Ministry of Parliamentary Affairs, the monthly remuneration for Members of Parliament will increase from Rs 1,00,000 to Rs 1,24,000. Their daily allowance has been raised from Rs. 2,000 to Rs. 2,500.

Meanwhile, the change took place following the Cost Inflation Index under the Income-tax Act of 1961.

Monthly salary has increased from ₹1 lakh to ₹1.24 lakh.

Daily Allowance: Increased from ₹2,000 to ₹2,500.

The monthly pension increased from ₹25,000 to ₹31,000.

After five years of service, the additional pension increases from ₹2,000 to ₹2,500 per month.

This modification, made under the Salary, Allowances, and Pension of Members of Parliament Act of 1954, seeks to account for inflation while preserving financial support for public representatives.