Centre approves ₹1.24 lakh monthly salary for MPs, raises allowances & pensions
In addition to the salary hike, the Centre has also increased the daily allowance for sitting MPs from Rs 2,000 to Rs 2,500;
A file image of the Parliament of India
New Delhi, March 25: The Centre has approved a 24% hike in the salaries of Members of Parliament (MPs), raising their monthly remuneration from Rs 1 lakh to Rs 1.24 lakh.
The revision, effective from April 1, 2023, is based on the Cost Inflation Index (CII), according to a notification issued by the Ministry of Parliamentary Affairs on Monday.
In addition to the salary hike, the government has also increased the daily allowance for sitting MPs from Rs 2,000 to Rs 2,500.
Former MPs will now receive a higher pension of Rs 31,000 per month, up from Rs 25,000. Additionally, the extra pension granted for each year of service beyond five years has been raised from Rs 2,000 to Rs 2,500 per month.
The announcement comes amid discussions on the financial status of lawmakers, with a recent report by the Association for Democratic Reforms (ADR) highlighting the wealth distribution among elected representatives.
According to ADR’s March 19 report, Karnataka leads in collective wealth among MLAs with a combined Rs 14,179 crore in assets, followed by Maharashtra and Andhra Pradesh.
On the other end of the spectrum, states like Uttar Pradesh, Sikkim, Rajasthan, Nagaland, Meghalaya, Jammu and Kashmir, and Assam ranked at the bottom, with only one billionaire MLA each.
BJP’s Parag Shah from Mumbai topped the individual wealth chart, declaring assets worth Rs 3,383 crore, while West Bengal’s Nirmal Kumar Dhara reported assets of Rs 1,700 crore.
An earlier ADR report published in June 2024 revealed that 93% of the newly elected Lok Sabha members are crorepatis, up from 88% in 2019.
The number of winning candidates with declared assets worth over Rs 1 crore rose from 475 in the last general elections to 504 in the current Lok Sabha.
- With inputs from agencies
