The Union Cabinet has approved the revision to the consolidated pay package of Chairpersons and full-time members of regulatory bodies.
The revision will come into effect from July 1 this year, an official release said.
For a chairperson, the revised pay package is Rs 4.5 lakh per month (without house and car).
In the case of full-time members, the revised pay package is Rs 3.75 lakhs per month (without house and car).
There are nine regulatory bodies where the revised consolidated pay package will apply.
These are Insurance Regulatory Development Authority, Telecom Regulatory Authority of India, Central Electricity Regulatory Commission, Competition Commission of India, Securities and Exchange Board of India, Pension Fund Regulatory and Development Authority, Petroleum and Natural Gas Regulatory Board, Warehousing Development and Regulatory Authority and Airports Economic Regulatory Authority of India.