Budget 2018: President, VP, Governors get salary hike; automatic revision for MPs every 5 years

The emoluments of the President will be revised to Rs 5 lakh per month, of the Vice-President to Rs 4 lakh per month and the Governors of states to Rs 3.5 lakh, Finance Minister Arun Jaitley said in his Union Budget 2018-19 speech in Parliament today.

Jaitley also said the emoluments to the Members of Parliament will be automatically revised every five years indexed to inflation, so that MPs 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.

Recently, BJP MP Varun Gandhi had suggested that rich parliamentarians should forgo their salaries for the remaining term of the current Lok Sabha.