Handout to be “paid out at same time”

Handout to be "paid out at same time"

Handout to be 'paid out at same time'

The 50 million people who are eligible to receive 10 000 baht each under the administration’s digital budget scheme will get the amount at the same time in the final quarter of the year as originally planned, according to Deputy Finance Minister Paopoom Rojanasakul’s statement from yesterday.

The state official Chai Wacharonke’s comments come as other suggestions were made the day before that were refuted by the internet.

Mr. Paopoom claimed he was correcting a misinterpretation about the 500 billion ringgit handout that the media had reported.

In the initial reports, Mr. Chai claimed that the government may consider distributing the funds first to the 14.98 million people who hold state security cards and those who fall under the protection of vulnerable groups. Some people were upset they would have to rush after hearing this.

This was done to ensure that the online currency distribution would begin on September 30th, the fiscal year 2024. He claimed that the position must begin implementing the handout program in time for the 2024 fiscal month in accordance with Section 21 of the State Fiscal and Financial Discipline Act.

In fact, Mr. Paopoom claimed that the government committee in charge of the plan had consistently supported its choice to immediately give the 500 billion baht to the whole target group in order to boost the economy.

All 50 million available Thais will record for the 10, 000- baht online handout in the second quarter, and the payment may begin in the third quarter, he said.

The budget gap that the funds ministry had planned to increase by 112 billion baht was approved by the government on Tuesday, according to Mr. Chai.

He claimed that this was being done to allow for the use of this extra money to be used to finance the flyer along with 10 billion baht in more revenue gathered from a number of sources.

With this 122 billion baht added, the initial 2024 fiscal budget will become 3.48 trillion baht, a 13.1 % increase from the 2023 fiscal budget, which still is in line with the government’s medium- term financial and budgetary plan ( 2025- 2027 ), Mr Chai said.

The agency’s request for a 122 billion baht expenditure may be forwarded to parliament future, he said, and it is anticipated to receive last approval by August.

Under a government decision reached on April 23, the system will be financed by funds from three main sources: the 2024 governmental budget, the Bank for Agriculture and Agricultural Cooperatives, and the 2025 governmental budget, he added.