MP Salaries Surge with a 24% Hike Amid Inflation Adjustments

The Centre has announced a 24% salary increase for members of Parliament effective from April 1, 2023, raising their monthly earnings to ₹1.24 lakh. Alongside, there's an increment in daily allowances, pensions, and office expenses for MPs, adjusting for inflation as per the Cost Inflation Index.

The Centre has officially declared a substantial 24% increase in the salaries of members of Parliament. This revision, effective from April 1, 2023, will elevate the monthly wages of MPs to ₹1.24 lakh, as per the notification.

The Ministry of Parliamentary Affairs has also introduced increments in various benefits including daily allowances, which have now been updated from ₹2,000 to ₹2,500. The adjustments also extend to the pensions for former MPs and additional pensions for service exceeding five years.

Historically, these revisions trace back to then-Finance Minister Arun Jaitley's 2018 initiative of linking MPs' remunerations to inflation, rendering salary adjustments every five years automatically. The increased salaries and benefits reflect cost inflation, as specified under the Income Tax Act's Cost Inflation Index.

(With inputs from agencies.)