Cost Inflation Index News - Latest Updates & Headlines
MPs' salaries adjusted every 5 years based on the Cost Inflation Index, Centre's decision prevents 'arbitrary increase'
New Delhi, March 25: The recent notification from the Ministry of Parliamentary Affairs, announcing a 24 per cent increase in the salaries, allowances, and pensions of Members of Parliament and former MPs, has given rise to various misconceptions among the public.
Explainer: All you need to know about the mechanism for revising MPs' salaries
New Delhi, March 25: The 24 per cent increase in salaries of MPs to Rs 1,24 lakh a month, announced on Monday, is part of a structured mechanism, set up after the Finance Act of 2018 amended the Salaries, Allowances, and Pension of Members of Parliament Act, 1954, to link MPs’ salaries to inflation, specifically using the Cost Inflation Index (CII), according to a senior official.