Govt hikes pay packages of regulatory bodies chairpersons, members

NEW DELHI: The government today approved revision in pay packages of chairpersons of nine regulatory bodies, including SEBI and TRAI, to Rs 4.5 lakh per month effective July 1, 2013.

"The Union Cabinet today approved the revision of the consolidated pay package of Chairpersons and full time members of regulatory bodies with effect from July 1, 2013," an official statement said here.

Pay packages of full-time members have also been hiked to Rs 3.75 lakh per month from July 1, 2013.

However, they will not be compensated for their costs incurred on car and house.

Besides SEBI and TRAI, the revised pay packages will be applicable on Insurance Regulatory Development Authority, Central Electricity Regulatory Commission (CERC) and Competition Commission of India (CCI).

Pension Fund Regulatory and Development Authority (PFRDA), Petroleum and Natural Gas Regulatory Board (P&NGRB), Warehousing Development and Regulatory Authority (WDRA) and Airports Economic Regulatory Authority of India (AERAI) are also on the list.

Till now, the chairpersons of these regulatory bodies were paid Rs 3 lakh per month without house and car, while the full time members were paid Rs 2.50 lakh per month without house and car.