PUBLISHED: 28 Sep 2024 at 04: 00
In response to a rumor that the government plans to reduce its 10,000-baht money handout plan by 50 % during the second phase of its execution next year, Prime Minister Paetongtarn Shinawatra appeared to disagree with her deputy finance minister yesterday.
Despite rumors that fiscal constraints may result in a payment cap of only 5, 000 ringgit per eligible individual, Ms. Paetongtarn assured the media that participants in the second phase would receive the full sum.
” People will definitely receive]all ] the money”, she confirmed, adding the agencies responsible for handling the scheme will provide further clarification after the cabinet meets on Tuesday.
Sirikanya Tansakunl, an MP of the major opposition People’s Party, said the group was in favour of the program that is aiding vulnerable groups second.
However, she said it would not have as little impact as the government claimed, dismissing the notion of it creating an economical “whirlwind”.
She noted that it was first being distributed to only 14.5 million people rather than the anticipated 45 million as originally anticipated. Also, it has now been segmented into different phases.
The government even predicted that due to budget constraints, the digital wallet software would be finished in the first quarter of 2025, with the remaining money going to be distributed in 2026 and 5, 000 Baht going to be distributed future.
Julapun Amornvivat, the deputy finance minister, reported that the government is presently considering using the money to fund additional economic excitement campaigns.
According to registration data, about 10 million people have names that frequently look, which is why the number of recipients was reduced to 26 million in the second phase.
Mr. Julapun stated that the government may proceed with the online cash flyer job even though the number of eligible recipients has decreased, but that it will evaluate the amount to be distributed in the second phase and potentially minimize it to 5, 000 baht per person.
The Economic Stimulus Policy Committee’s upcoming meeting, which will be led by Ms. Paetongtarn, does need clarification before moving forward with step two. However, a time for this has not yet been set, Mr Julapun said. Whether 5, 000 or 10, 000 baht is inevitably be distributed will depend on a number of variables, he noted.
If the figures are not significantly distinct from what we have calculated, he said,” we may manage the finances in a way that allows us to move the system out as planned.”
But if there are huge discrepancies, such as in the event of a 100-billion-baht fiscal shortfall that may need replenishment using the main budget… we would have to resort to various phases, Mr Julapun added.
The authorities intended to invest 450 billion pounds in the program to ensure that 45 million people between the ages of 16 and over benefited from it. This would increase economic growth by up to 5 % this year, compared to the forecasted 2 %, according to the report.
I hope the vulnerable groups will now have the option to use the money to help themselves. This is an economic signal. It should boost GDP by 0.35 % this year”, Mr Julapun said.