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President and Vice-President Salary Pay Scale Allowance Pension 2018
The highest place, in the Indian governing system is that of the President. He is the head of the government but does not have any powers of changing the constitution of the country. He is closely assisted by the Vice- President of nation. Both the members are elected by the Members of the Parliament. As the posts rank the highest, it is obvious that they will get a lump sum amount as their remuneration. Here, you will get all details related to the salary and other perks that the President and the Vice-President of the country receives.
Monthly Salary of President and Vice-President
The central government has passed a bill in the Upper House and that has brought about a huge increase in the monthly salary of both the President and the Vice- President. Starting from the year 2016, both the President and the Vice-President will draw Rs. 1.5 lakhs and Rs. 1.25 lakhs respectively, on a monthly basis.
Yearly Salary of President and Vice-President
Depending on the monthly salary, it is obvious that the President and the Vice-President get a handsome salary on a yearly basis. The annual remuneration that the President draws is no less than Rs. 18 lakhs. On the other hand, the Vice-President will draw a yearly remuneration of Rs. 15 lakhs.
Allowance, Perks and Other Benefits
Apart from the salary, both the Vice-President and the President have access to numerous allowances and perks as well. For instance, it is the responsibility of the central financial department to provide both the President and the Vice-President with an additional grant of Rs.60, 000. The amount will be given to the President and the Vice-President for the entire year. It will be used for meeting the expenses of the office.
When talking about the perks, they will get their own security and peon during the term. They will get a luxurious house and the cost of travel during their office tenure as well as the after retiring from the post. They will be given a mobile phone and the bill will be paid by the government. Apart from this, they will have access to free broadband and internet links.
In case the President passes away, his or her spouse will get the advantage of living in a house that comes with the full décor. The spouses will also continue to enjoy the services of security guards, associated staff members and peon. They will also get the benefits of using the official automobile, traveling services and telephone connection.
Pension Details of the President and Vice-President
- Once the President and the Vice-President finishes their tenure and leave the office, they will be entitled to get a handsome pension on a monthly basis.
- It has been highlighted in the bill that both the former Presidents and the former Vice-Presidents will be entitles to get a pension that is 50% of what their monthly salary was.
- Thus, any Former Presidents of the nation will draw a pension that amounts to Rs. 75,000
- In case of the former Vice-Presidents, the central government will provide them with a pension that amounts to Rs. 62, 500.
The Finance Ministry of the country has the responsibility of making the payments of the salary and the pension to the current President and Vice-President and the former Presidents and Vice-Presidents as well.
Update in 2018
President, Vice President and Governor MP salary
This year Budget was an event for many Indians as well as the political industry. In his 5th Budget presentation Arun Jaitely has proposed 200% increase in income of the President of India, Vice President of India and the Governor of India. Monthly income of all the three members will be revised and will be applicable from 1st April 2018.
Salary of the President, Vice President and Governor
- As per the Union Budget 2018 speech by Finance Minister Arun Jaitely, the salary of the President will be Rs. 5 Lac per month from now onwards instead of Rs. 1.5 Lac. Vice President of the country will draw Rs. 4 Lac per month as salary instead of Rs. 1.25 Lac.
- Finally the Governor of the nation would receive monthly salary of Rs. 3.5 Lac now. The proposal will require parliament’s approval which is yet to be given. Once the approval will come the salaries will be effective from 1st of April of FY 2018-19.
Before this year, in 2009, President Smt. Pratibha Patil has given her nod to 300% hike in President’s salary. From Rs. 50,000/- per month to Rs. 1.5 Lac per month was recorded in Budget 2009. On the other the salary of Vice President was increased from Rs. 40,000/- per month to Rs. 1.25 Lac per month.