The positive atmosphere that surrounded the working class of India ahead of the Union Budget 2018 turned into a frosty air after Finance Minister announced no changes in Income Tax slab for the current fiscal year. But on the contrary, the top public functionaries and officials were not getting tired from lionising the Centre for granting significant hike in their respective salaries. The finest boon came for the Members of Parliament, who will witness a revision in their salaries every 5 years.
According to the new proposal in Budget 2018, emolument of the President will be revised to Rs 5 lakh per month while the Vice-President will see an increase in his salary to Rs 4 lakh. Also, the salary of Governors of states of India will be raised to Rs 3.5 lakh. Earlier, the President of India used to get Rs 1.50 lakh while Rs 1.25 lakh was given to the Vice-President. A Governor used to be paid Rs 1.10 lakh in salary by the Central government.
The most significant announcement came for the Members of Parliament (MPs) as they will be subject to revision in salaries every 5 years. Finance Minister Arun Jaitley said that allowances and salaries for MPs will be revised from April 1, 2018 with inflation adjustments every 5 years.
Post the announcement, Prime Minister Narendra Modi hailed Finance Minister Arun Jaitley for presenting an all-friendly Union Budget 2017-18 with the focus on agriculture, health and small businesses. Modi also lauded the announcement of a flagship National Health Protection Scheme under which Rs 5 lakh cover will be provided per year to 10 crore poor and vulnerable families in the country.