New Delhi: Parliamentarians have reason to cheer -- their basic pay is set to be doubled to Rs 1 lakh from April 1 this year.
In the Finance Bill tabled on Thursday the government proposed that the basic pay of MPs be increased from the current Rs 50,000 to Rs 1 lakh.
Allowances under various heads given to Members of Parliament will also be increased.
Presenting his fifth budget, Finance Minister Arun Jaitley today also proposed a law for an automatic revision of salaries for MPs every five years indexed to inflation.
There has been a public debate on salaries paid to members, and the present practice allowing them to fix their own emoluments had invited criticism, Jaitley said.