New Delhi, March 24 -- The Central Government has notified an increase in MPs' salary, daily allowance, pension, and additional pension. The monthly salary for both Lok Sabha and Rajya Sabha MPs has been increased from Rs 1 lakh to Rs 1.24 lakh, while their daily allowance has been raised from Rs 2,000 to Rs 2,500.

The hike will be effective from April 1, 2023. There are 543 Lok Sabha MPs, 245 Rajya Sabha MPs, and numerous former lawmakers who will benefit from the increased pension.

Additionally, the pension for former MPs has been revised from Rs 25,000 to Rs 31,000 per month, with an increase in additional pension for every extra year of service beyond five years from Rs 2,000 to Rs 2,500, according to the Ministry of Parliamentary ...