The government may question the Council of State to check whether its program to use 172.3 billion ringgit from the Bank of Agriculture and Agricultural Cooperative to help pay for its 500-billion-baht electronic wallet handout program is legitimate.
Srettha Thavisin, the prime minister, stated that the government would consult with its constitutional department to ensure that the system adheres to the law.
When asked about the idea of developing a super app for the plan, which may need more money from taxpayers, Mr. Srettha, the finance minister, said the government may respond to requests for comment.
According to him, the government will make sure the system is run honestly and open to public investigation.
Every qualified individual is expected to receive the 10,000 baht through a” very software” created by the Ministry of Digital Economy and Society. It can be used by all financial institutions in an open-loop type.
Mr. Srettha previously predicted that the program would launch in the third fourth to bring the slow economy back to life.
Within six weeks, the Pheu Thai Party’s premier plan may allow 50 million Thais to devote 10 000 baht there.
Mr Srettha, who doubles as the finance minister, said the plan may drive GDP up by 1.2 to 1.6 percent points.
The electric pocket initiative will be funded by three options, according to assistant finance minister Julapun Amornvivat.
Under Section 28 of the State Fiscal and Financial Disciplines Act, a total of 152.7 billion baht will be withdrawn from the Bank for Agriculture and Agricultural Cooperatives ( BAAC ) budget for the 2025 fiscal year, and another 172.3 billion baht will be borrowed from the same budget as the previous year. This number will be given to 17.23 million producers.
According to Mr. Julapun, the remaining 175 billion ringgit will be used to reallocate the budget for the upcoming fiscal time.
He claimed that those who are ready may sign up for the flyer in the third quarter and use it during the final three months of the year.
However, critics have taken aim at the program to use from the BAAC. The government will pay the lender back in the future, and the BAAC will give those who are eligible first.
Jurin Laksanawisit, a member of the Democrat Party record, claimed that the BAAC loan is essentially a repetition of what took place during Pheu Thai’s rice-pledging program under the original Yingluck Shinawatra management.
” This exact replica of the rice-pledging scheme” is said. They share the exact DNA”, Mr Jurin said.
” The state will then acquire 172.3 billion from the BAAC. Combined with the more than 200 billion baht debts incurred by the corn system, the ( Pheu Thai- run governments ) will earn the BAAC about 400 billion ringgit”.
The state is unable to describe how it will repay the loan the BAAC intends to use to finance the digital wallet scheme, according to Mr. Jurin.
Nipon Poapongsakorn, a distinguished fellow at the Thailand Development Research Institute, echoed similar attitudes. He urged the government to provide information on how to repay the lender.
This strategy is meant to help candidates get political advantage before the upcoming election. Now, the market is not in a turmoil. Exports, private consumption and hospitality have improved, adding that the 500- billion- baht handout is merely a short- term measure”.