President,PM and MPs salary to be cut for one year.
The Union Minister, Prakash Javadekar said that the MP’s fund will be slashed by 30% for one year after the cabinet meeting on Monday. The MP’s approved an ordinace , which is an amendment to MP act 1954. Allowances and pension is set to be reduced with effect from April 1 2020.
Prakash Javadekar also informed that the MPLAD’s fund has been suspended for 2 years.The Member of Parliament Local area development Fund(MPLAD) fund is said to be the backbone of the country.The 7900 crore rupees to be saved from this will be used for fighting the COVID19.
President Ramnath Kovind,PM Narendra Modi,Vice president Venkaiah Naidu and many other state governers have also voluntarily agreed for the Pay cut.