New Delhi: TheUnion government on Monday notified a 24% hike in the salaries of Members of Parliament with retrospective effect from April 1, 2023, based on the Cost Inflation Index.

The notification, issued by the Ministry of Parliamentary Affairs, also increased the daily allowances for sitting members and pension and additional pension for every year of service more than five years for former members.

A member of Parliament will now get ₹1.24 lakh per month as salary as against ₹1 lakh per month they received earlier. The daily allowance too has been increased from ₹2,000 to ₹2,500, the notification said.

A member of Parliament will now get `1.24 lakh per month as salary as against `1 lakh per month they received earlier. The daily allowance too has been increased from `2,000 to `2,500, the notification said. The pension for former Members of Parliament has been increased from `25,000 per month to `31,000 per month.

The additional pension for every year of service more than five years has been increased from `2,000 per month to `2,500 per month. The increase in the salary has been notified in exercise of the powers granted under the Salary, Allowances and Pension of Members of Parliament Act based on the Cost Inflation Index specified in the Income Tax Act of 1961.