After central government employees, it's the turn of President Pratibha Patil [Images], Vice President Hamid Ansari and state Governors to receive a pay hike.

The Cabinet Committee on Economic Affairs on Thursday sanctioned a 300 per cent pay hike for the President, Vice President and Governors.

The President's emoluments have been raised to Rs 1.50 lakh per month from Rs 50,000 at present.

Similarly, the Vice President will get Rs 1.25 lakh -- a more than three-time hike from the present salary of Rs 40,000.

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

The new emoluments were approved at a meeting of the CCEA chaired by Prime Minister Manmohan Singh [Images].

A press release issued by the Press Information Bureau explained that there will be rationalization of 'post retirement benefits to the former presidents, former vice presidents and their spouses'.

The Cabinet secretary and defence chiefs too have been given substantial increments.

Sources said the hike will be effective from January 2007.

The hike comes close on the heels of government announcing a bonanza for its employees by implementing the recommendations of the 6th Pay Commission report under which a secretary at the Centre will draw Rs 80,000 a month.

Additional Reportage: PTI