In a significant move, the central government has announced a 24% hike in the salaries, pensions, and allowances of Members of Parliament (MPs), effective from April 1, 2023. This marks the first revision since 2018, aligning with the Cost Inflation Index under the Income Tax Act of 1961.
The monthly salary of sitting MPs has been increased from ₹1 lakh to ₹1.24 lakh. Additionally, their daily allowance has been raised from ₹2,000 to ₹2,500. Former MPs will now receive a pension of ₹31,000 per month, up from ₹25,000, with an additional pension of ₹2,500 for every year of service beyond five years.
The revision, notified under the Salary, Allowances, and Pension of Members of Parliament Act, 1954, aims to address inflation and ensure adequate compensation for public officials. However, the announcement has sparked debates about income disparity, as the revised salaries are over eight times the average monthly income of ₹15,000 in India.
This development comes amid broader discussions on public sector earnings and the financial responsibilities of lawmakers. While the hike has been welcomed by some as a necessary adjustment, others have raised concerns about its timing and impact on public perception.
