According to the information available, the Indian government has notified an increase in the salary, allowances, and pension of Members of Parliament (MPs). Here’s a breakdown of the key changes:
- Effective Date:
- The changes are effective from April 1, 2023.
- Revised Payouts:
- Salary: Increased from ₹1,00,000 to ₹1,24,000 per month.
- Daily Allowance: Increased from ₹2,000 to ₹2,500.
- Pension: Increased from ₹25,000 to ₹31,000 per month.
- Additional Pension: Ex-Members will also see an increase in the additional pension for each year of service, from Rs 2,000 to Rs 2,500.1
- Basis for the Increase:
- The revision is based on the Cost Inflation Index as outlined in the Income-tax Act, 1961.
- The changes are made in the exercise of the powers granted by the Salary, Allowances, and Pension of Members of Parliament Act, 1954.
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