New Delhi, Sept. 11 (PTI): The President, the Vice-President and the governors will get a 200 per cent pay hike with the government today clearing a proposal to increase their salaries.

The President’s salary has been raised to Rs 1.5 lakh a month from Rs 50,000.

The Vice-President will receive Rs 1.25 lakh a month — more than three times his current pay of Rs 40,000.

The salary of the governors will go up from Rs 36,000 to Rs 1.10 lakh.

The cabinet committee on economic affairs, chaired by Prime Minister Manmohan Singh, today approved the hike, which will be effective from January 2007.

The committee also rationalised the post-retirement benefits of former Presidents, former Vice-Presidents and their spouses, an official spokesperson said.

The hike comes close on the heels of the government announcing a bonanza for its senior employees by implementing the recommendations of the sixth pay commission.