Twitter users have a good laugh about Rs 500 and Rs 1000 withdrawal
All denominations of currency notes will be reintroduced with new design and features," Das said.Reuters

The Narendra Modi government has decided to give the Members of Parliament (MPs) a steep salary hike of 100 percent. If the revised salary structure comes into force, an MP would get Rs 1 lakh as basic pay. Currently, they receive a basic pay of Rs 50,000 per month.

The Prime Minister's Office (PMO) has given an approval to consider a recommendation made by the joint committee on salaries and allowances of the Parliament members, CNN-News 18 reported. The committee is headed by Bhartiya Janata Party (BJP) MP Yogi Adityanath.

It is not just the salaries, but the allowances as well that have been revised. If approved, the revised salaries of the MPs will be applicable from January 2017.

Additionally, the Central government is also considering hiking the President's salary from Rs 1.5 lakh per month to Rs 5 lakh. The salary of governors is also expected to increase from Rs 1.10 lakh to Rs 2.5 lakh, the report added.

Earlier this year, the parliamentary panel had recommended 100 percent hike in salary given to MPs, which was turned down by the government in July.

However, with the new decision, pressure may mount on Prime Minister Modi to green-light the raise in salaries of lawmakers that has been pending for quite some time now.