New Delhi, March 24 — The GOI on Monday notified a 24% hike in the salaries of Members of Parliament (MPs), raising their monthly pay from ₹1 lakh to ₹1.24 lakh, effective from April 1, 2023. The increase is based on the Cost Inflation Index.
The Ministry of Parliamentary Affairs, in its notification, also raised the daily allowance for sitting MPs from ₹2,000 to ₹2,500.
Former MPs will now receive ₹31,000 per month in pension, up from ₹25,000.
Besides, the extra pension granted for every year of service beyond five years has been increased from ₹2,000 to ₹2,500 per month.
The ministry said the revision was made under the powers granted by the Salary, Allowances, and Pension of Members of Parliament Act, in line with the Cost Inflation Index specified in the Income Tax Act of 1961.
The revised pay and benefits aim to align MPs’ compensation with rising living costs.
