<ul><li>The Centre has approved a 24% salary hike for Members of Parliament (MPs), effective retrospectively from April 1, 2023.</li><li>MPs will now receive a monthly salary of Rs 1.24 lakh, up from Rs 1 lakh, along with increased daily allowances.</li><li>Former MPs will also benefit from a pension increase, with payments rising from Rs 25,000 to Rs 31,000 per month.</li><li>The salary revision is the first adjustment for parliamentarians since 2018 and is based on the Cost Inflation Index.</li></ul>

Centre approves 24% salary hike for MPs, effective retrospectively from 2023

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