New Delhi/IBNS, March 24 -- The Centre has hiked the salaries, allowances, and pensions of Members of Parliament with effect from April 1, 2023, according to a gazette notification issued by the Ministry of Parliamentary Affairs on Monday.

The salaries of Lok Sabha and Rajya Sabha members have been raised to Rs 1.24 lakh per month from Rs 1 lakh at present.

The daily allowances have also been increased to Rs 2,500 from Rs 2,000 earlier, the notification said.

The additional pension for every year of service in excess of five years has been increased to Rs 2,500 from Rs 2,000 earlier, the notification states.

According to the 2018 revision, MPs receive an allowance of Rs 70,000 as constituency allowance to pay for the cost of maintaini...