Today, the Union Finance Minister Arun Jaitley presented the Budget for 2018 at the Parliament. He began his speech at 11:04 A.M. in the presence of the President, Prime Minister and the Opposition.
Arun Jaitley decided to accept the MPs demands for a salary hike and announced that the MPs salaries would be revised every five years. Jaitley said, “There has been considerable public debate with regard to emoluments paid to Members of Parliament. The present practice allows the recipients to fix their own emoluments which invites criticism. I am, therefore, proposing necessary changes to refix the salary, constituency allowance, other expenses payable to Members of Parliament with effect from April 1, 2018.” He further added, “The law will also provide for automatic revision of emoluments every five years indexed to inflation.”
During the Winter Session of Parliament many MPs approached the Lok Sabha seeking a salary hike. The present system allows a Parliamentary committee with members in both Houses to make suggestions on MPs salaries. The Government will then make a decision and bring an amendment bill. Amendment proposals such as these are approved only with the consensus in the Parliament.
