Announcing the hike in their salaries in his Union Budget speech, Finance Minister Arun Jaitley said the emoluments of the President, the Vice President and the Governors were last revised with effect from January 1, 2006.
"These emoluments are proposed to be revised to Rs 500,000 for the President, Rs 400,000 for the Vice President and to Rs 350,000 per month for the Governors," he said, amidst thumping of desk by the members in the Lok Sabha.
Till now, the President, the Vice President and the Governors continued to get less salaries as compared to the top bureaucrats and service chiefs since the laws were not amended to rectify an anomaly with the implementation of the 7th Pay Commission's recommendations two years ago.
After the implementation of the 7th Pay Commission's awards on January 1, 2016, the Cabinet Secretary, who is the top-most bureaucrat in the country, gets Rs 225,000 per month and a Secretary in the Union government draws Rs 225,000 per month.
The President is also the supreme commander of all the three armed forces - the Army, Air Force, and Navy.
However, the President's current salary was less than the chiefs of the three armed forces, who draw a salary equivalent to the cabinet secretary.