: In wake of COVID19, Cabinet decides to cut salaries of MPs by 30% for a year; no MPLAD funds for 3 yrs #FinanceIndia #StockMarketNEWS In wake of COVID-19, Cabinet decides to cut salaries of MPs by

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In wake of COVID19, Cabinet decides to cut salaries of MPs by 30% for a year; no MPLAD funds for 3 yrs #FinanceIndia #StockMarketNEWS
In wake of COVID-19, Cabinet decides to cut salaries of MPs by 30% for a year; no MPLAD funds for 3 yrs New Delhi, Apr 6 (KNN) After taking plenty of measures to contain the spread of coronavirus, the epidemic succeeded in turning down the economy, forcing government to arrange for more funds to deal with the situation.

Subsequently, the government on Monday, in a cabinet meeting decided to take a 30 per cent salary cut of all Members of Parliament (MPs) for a year in view of the coronavirus outbreak.

In view of the emerging situation arising due to the rapid spread of coronavirus, the cabinet promulgated an ordinance to reduce the salaries of all Members of Parliament by 30 per cent for one year, said Union Minister Prakash Javadekar.

All members of parliament will also take a similar cut and the money will go to the countrys consolidated fund, the government said after a cabinet meeting today, he added.

The Cabinet also approved the move to suspend the MPLADS Scheme for two years. Rs 7,900 crore from the MPLADS scheme will go to Consolidated Fund of India, Union Minister Prakash Javadekar said.

The minister also announced that The President, Vice President, Governors of States have voluntarily decided to take a pay cut as a social responsibility. The money will go to Consolidated Fund of India.

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