Salaries of MPS to be revised Automatically according to Inflation

New Delhi Feb 2: Finance minister Arun Jaitley on Thursday has presented the budget and has emphasisied on the education sector.The Finance Minister has announced hike in emoluments for President, Vice president, and Governors.

Finance Minister Arn Jaitley has announced that "The revised emoluments for the President would go up from 1.5 lakhs to 5 lakhs, for the Vice President from 1.25 lakhs to 4 lakhs and for governors, from 1.1 lakhs to 3.5 lakhs. "

The Finance Minister has also announced a hike in salaries of Members of Parliament. The FM has said that "There has been a considerable public debate with regard to emoluments paid to Members of Parliament. The present practice allows the recipients to fix their own emoluments which invite criticism. I am, therefore, proposing necessary changes to refix the salary, constituency allowance, other expenses payable to Members of Parliament with effect from April 1, 2018."

"The law will provide automatic adjustment of emoluments every five years based on inflation."

Sources said that FM had increased the salaries of MPS after many of them demanded an increase in allowances because of increased prices and inflation.