Budget 2018: Salary hike for Prez, VP, governors; know how much they'll get
New Delhi: Along with the common man, the Union Budget 2018 had brought cheers to the top Government officials.
In his Budget speech, Finance Minister Arun Jaitley on Thursday announced an upward revision of salaries of the President, Vice-President and Governors.
A proposal to revise salary of the President to Rs 5 lakh per month, Vice-President to Rs 4 lakh per month and the Governors of states to Rs 3.5 lakh was tabled by Finance Minister Arun Jaitley in Parliament.
The President, who holds the highest office in the country and serves as the supreme commander of the defence forces, currently gets Rs 1.5 lakh as salary.
The scale of increase in the salary of the President is by a whopping 200 per cent.
The existing salary of the Vice-President is Rs 1.25 lakh a month, while that of the Governor of a state is Rs 1.10 lakh.
The announcement was welcomed by the Members of Parliament (MPs).
Read Also: Budget 2018: Boost for farmers, blow to market investors, feeble tax sop for salaried
Jaitley also proposed a change in the procedures of revision of Member of Parliament's salaries. He said the salaries to the MPs will be automatically revised every five years indexed to inflation, so that they themselves should not fix their own salaries.
"Law also provides for an automatic revision of emoluments with respect to inflation. Now salary will be inflation-based and will not be fixed by MPs," Jaitley said.
Also read: Union Budget 2018: Key highlights
The proposal needs Parliament's approval which is expected in the current Budget session. Once cleared, the salary will be made applicable from February, 2016.
The proposal was to incrase the salary of the President to Rs 5 lakh a month was made in 2016.
After the implementation of 7th pay commission, it was reported that the President and the Vice-President get less salaries as compared to the top bureaucrats and service chiefs.
