Cabinet

Coronavirus: MP allowances, pensions slashed by 30% for a year, President, PM, governors to take salary cut | Tax Guru Indian


The Union Cabinet has approved an ordinance
slashing the pension and allowances of members of the Parliament by 30 per cent
for a year.

Cabinet

The Union Cabinet has approved an ordinance slashing the pension and allowances of members of the Parliament by 30 per cent for a year,For instance, Union minister Prakash Javadekar said on Monday.

The ordinance – an amendment to Members of Parliament Act, 1954, will reduce the allowances and pension by 30 per cent with effect from April 1, 2020. In addition, the reduction will be applicable for a year.

“Apart from
the ordinance on MP salary, President Ram Nath Kovind, Vice-President Venkaiah
Naidu and many state governors and lieutenant-governors have also voluntarily
decided to take a pay cut as a social responsibility,” the Union minister
said.

In conclusion, “The money will go to the Consolidated Fund of India,” Prakash Javadekar said.

Similarly, the Consolidated Fund of India is the term used for the total revenue collected by the government through taxes and expenses incurred in the form of borrowings and loans.

The minister also
informed the media that the MPLADs (Members of Parliament Local Area
Development Scheme) fund has been discontinued till 2022. “MPs’ funds of
Rs 10crorse each will be pushed towards nation-building,” he said.

Source from  indiatoday


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