The Union Cabinet has approved an ordinance slashing the pension and allowances of MPs, by 30% for a year, Union minister Prakash Javadekar said on Monday. The ordinance, an amendment to Members of Parliament Act, 1954, will reduce the allowances and pension by 30% with effect from April 1, 2020. Javadekar said, apart from the ordinance on salaries of MPs, the PM, President Ram Nath Kovind, Vice-President Venkaiah Naidu and many state governors and lieutenant-governors have also voluntarily decided to take a pay cut as a social responsibility. The money will go to the Consolidated Fund of India, which is the term used for the total revenue collected by the government through taxes and expenses incurred in the form of borrowings and loans. The minister also informed the media that the MPLAD fund has been discontinued till 2022.
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