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Legislators’ salary cut by 30%

  • IASbaba
  • April 7, 2020
  • 0
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Legislators’ salary cut by 30%

Part of: GS Prelims and GS-II – Polity

In News:

  • Union Cabinet has approved an Ordinance amending the Salary, Allowances and Pension of Members of Parliament Act, 1954 for reducing salary by 30% for one year
  • It will come into effect from 1st April, 2020. 

Key takeaways:

  • President, Vice President, Governors of States have also voluntarily decided to take a pay cut of 30% as a social responsibility for one year. 
  • The money will go to Consolidated Fund of India. 

Important value additions:

Consolidated Fund of India

  • It includes revenues, which are received by the government through taxes and expenses incurred in the form of borrowings and loans
  • All government expenditures are met by consolidated funds except a few. 
  • It was created under Article 266 of the Constitution.  
  • Similar to the Centre, every state has its own Consolidated Fund as well.

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