Concerns are raised by the B43 billion from the central fund’s allocation that there wo n’t be as much money to help the less fortunate.
Described: 12 Jul 2024 at 19: 27
UPDATED: 12 Jul 2024 at 20: 08
The authorities insisted on Friday that its efforts to alleviate the hardship of people would not be impacted by its plan to use 43 billion ringgit from the northern budget to partially finance the digital wallet program.
Chakkraphong Saengmanee, the head of the Budget Bureau’s business, downplayed concerns that using such a large sum of the central finance to fund the handout, which is anticipated to cost at least 450 billion baht, may leave the government with insufficient funds to assist those in need.
When Sirikanya Tansakul, the deputy chief of the major opposition’s Move Forward Party, questioned prime minister Srettha Thavisin on Thursday regarding the government’s financial management, she raised the issues.
Mr. Chakkraphong claimed that the government had carefully examined the funds spending plan and past central bank expenses before making the decision.
According to the secretary, the 43 billion rmb represents about 40 % of the central bank, which totals 99.6 billion ringgit. He said the Budget Bureau consulted with the secretary-general of the Council of State, the president’s legal adviser, who approved the decision to continue.
Mr. Chakkraphong emphasized that the government wanted to address issues and stop believing that it was “reserving” the northern bank exclusively for the digital pocket program.
He expressed assurance that the government would be able to manage assets and boost the economy.
As many as 50 million Thais aged 16 and over does get 10, 000 ringgit to be spent in the towns where they are registered, according to the program’s third third.
The schedule, which the Pheu Thai Party used as its main policy in the 2023 election, has been criticized by academics and two previous central banks governors, who also claim that it is fiscally irresponsible.
Due to their high transfer content, deputy finance minister Paopoom Rojanasakul pointed out late that electrical appliances, digital devices, and mobile phones are excluded from the digital wallet scheme because the goal is to ensure that the money spent stays in the nation.
When the prime minister presides a gathering of the digital wallet plan committee on Monday, the final decisions on issues relating to the handout are anticipated to be made. On July 24th, Mr. Srettha is scheduled to reveal all the details to the consumer.