The decision was taken when a proposal was approved at a cabinet meeting chaired by Prime Minister Sheikh Hasina on Monday.
The proposal stipulated that the current allowance be increased by 150% for all ranks to ensure that the dependents received a respectable amount.
The allowance for dependents of Bir Shresthas has been increased from Tk12,000 to Tk30,000; Bir Uttams from Tk10,000 to Tk25,000; Bir Bikrams from Tk8,000 to Tk20,000; and Bir Pratiks from Tk6,000 to Tk15,000 per month.
Allowance to the families of the martyred freedom fighters has been increased from Tk15,000 to Tk30,000. Families of injured freedom fighters will receive an allowance based on the extent of their injuries.