MPs get 34 free flights, 50,000 units of free electricity and now 24% hike in salary

Jyoti — Wed, 02 Apr 2025 11:05:10 +0000

MP Salary: Salary of MPs increased by 24%! Now MPs will get ₹1.24 lakh per month, along with 34 free air journeys, 50,000 units of free electricity, AC train travel and ₹31,000 pension.

The government’s logic behind this decision is that due to inflation, it was necessary to increase the salary and allowances of MPs.

The salary of the honorable MPs of the country has been increased once again. The government has increased their salary by 24%. The Ministry of Parliamentary Affairs has issued a notification, according to which now MPs will get a salary of Rs 1.24 lakh per month. Earlier this amount was Rs 1 lakh per month.

Salary increased according to inflation

This increase has been made on the basis of Cost Inflation Index and it will be considered effective from 1 April 2023. The Modi government had made a rule in 2018, under which the salary and allowances of MPs are reviewed every five years. This review is done on the basis of inflation rate. Now under this increase, not only salary but also daily allowance and pension have been changed.

What all increased?

DA (Daily Allowance)

Earlier: ₹2000 per day
Now: ₹2500 per day

Hike in pension of former MPs

Earlier: ₹25,000 per month
Now: ₹31,000 per month

Extra pension (for MPs with more than 5 years of service)

Earlier: ₹2000 per year
Now: ₹2500 per year

Constituency Allowance

Earlier: ₹70,000 per month
Now: ₹87,000 per month

Office Expenses

Earlier: ₹60,000 per month
Now: ₹75,000 per month (which includes ₹50,000 for computer operator and ₹25,000 for stationery)

Furniture Expenses

MPs will get the facility to purchase durable furniture up to Rs 1 lakh and non-durable furniture up to ₹25,000.

There was a big change in 2018 too

In 2018, the then Finance Minister Arun Jaitley increased the salary of MPs from ₹ 50,000 to ₹ 1,00,000. Also, it was decided that now there will be an automatic salary review every five years, so that the hassle of recommendations is over. However, in 2020, during the COVID-19 pandemic, the government cut the salary of MPs by 30%, which was later restored.

What facilities do MPs get?

Free air and rail travel : An MP can travel free by air 34 times a year. If he wants, he can transfer 8 tickets to his colleagues or staff. Free travel facility in First AC in Indian Railways. Allowance up to ₹ 16 per km on road travel for official work.

Free electricity and water: 50,000 units of free electricity and 4 lakh liters of free water along with government accommodation in Delhi. 1,50,000 free calls to Lok Sabha MPs and 50,000 free calls to Rajya Sabha MPs.

Medical facilities: Free treatment in government and private hospitals. Retired MPs and their spouses also get free treatment under CGHS. If treatment is not possible in the country, the government will also bear the cost of treatment abroad.

Government car and staff assistant: MPs get government car for official work, staff assistant for research and subsidized canteen facility.

Why was the salary hike necessary?

The government’s logic behind this decision is that due to inflation, it was necessary to increase the salary and allowances of MPs. Since this calculation is done on the basis of cost inflation index, this time there was an increase of 24%.

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Government extended the time limit for maintaining MPS by 2 years

Pravesh Maurya — Thu, 01 Aug 2024 07:18:20 +0000

Public sector banks and financial institutions were expecting a two-year extension in minimum public shareholding for a long time. Now the Government of India has given a 2-year extension. This means that banks and financial institutions have time till August 2026 for minimum public shareholding ( MPS ).

2 years exemption

As per the exemption given by the central government, now banks and financial institutions can maintain MPCS till 1 August 2026. Let us tell you that market regulator SEBI had ordered the public sector banks to maintain 25 percent MPCS. Even now the MPS of 5 banks is more than 25 percent.

Banks whose public shareholding is less than 25 percent should reduce their public shareholding to at least 25 percent within the time limit prescribed in Rule 19A of the Securities Contracts (Regulation) Rules, 1957. Now the banks have an additional two years to do this work. As per the previous order issued by the government, the bank has to maintain MPS by August 1, 2024.

Also Read: New Rules 1 August: These 6 big changes have been implemented in the country from today

The government has asked the Securities and Exchange Board of India (SEBI) to take necessary action and bring it to the notice of the concerned stock exchanges.

5 banks do not maintain MPS

Out of the 12 public sector banks, five banks still have MPS more than 25%. The government should have 75% stake in these banks. SEBI has ordered that the MPC of all companies should be 25%.

The government’s share in Punjab and Sindh Bank is 98.25 percent.
The government’s stake in Chennai-based Indian Overseas Bank is 96.38 percent.
The government holds 95.39 percent stake in UCO Bank.
The government holds 93.08 percent stake in Central Bank of India.
The government holds 86.46 percent stake in Bank of Maharashtra.

These banks have to increase their MPS to 25 percent in the next two years.

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