Budget 2018: FM Arun Jaitley proposes pay hike for President and MPs

The increase in salaries and allowances of MPs would come into effect from April 1, 2018, Jaitley said

Finance Minister Arun Jaitley on Thursday proposed increasing the salaries of the President, Vice-President and Governors.

He also proposed a law for automatic revision of salaries of Members of Parliament (MPs), indexed to inflation, every five years.

“The emolument of the President, the Vice-president and the Governors were last revised with effect from 1st January, 2006. These emoluments are proposed to be revised to Rs 500,000 for the President, Rs 400,000 for the Vice-President and to Rs 350,000 per month for the Governors,” he said in the Budget speech. The President now gets Rs 150,000; the Vice-president Rs 125,000 and Governors Rs