Many Indians living in rural areas keep large amounts of cash at home because of a lack of banks. Photograph:( Getty )
India's members of parliament can soon expect a steep hike in salary as the central government has decided to give them a 100 per cent raise, taking their basic pay from Rs 50,000 (USD 740) to Rs 1 lakh (USD 1,500) per month.
The Prime Minister's Office (PMO) is learnt to have agreed to consider a recommendation made by the Joint Committee on Salaries and Allowances of Members of Parliament, which is headed by Bharatiya Janata Party (BJP) MP Yogi Adityanath.
The PMO is believed to have agreed to revise not only the parliamentarians' salary but also their allowances.
The government is also mulling over increasing the President's salary from current Rs. 1.5 lakh (USD 2,246) per month to Rs 5 lakh (USD 7,489) and the governor's salary from current Rs 1.10 lakh (USD 1,647) to Rs. 2.5 lakh (USD 3,744).