The prime minister of Malaysia who also doubles up as the finance minister announced the 2013 budget that came with more goodies for the citizens of the republic of Malaysia. The unmarried Malays who are aged 21 and above are just among the unexpected inclusions in the People’s 1 Malaysia Aid (BR1M 4.0) - that has recently been branded a campaign weapon. As mentioned, unmarried youths who have attained the age of 21 and earn anything below RM2000 every month are now entitled to the People’s 1 Malaysia Aid (BR1M) of RM250.
School children are also entitled to RM100 per child from Putrajaya and RM1.2 billion has been set aside for the senior citizens. Also those to benefit from this RM1.2 billion are people with chronic illnesses, disabled workers among others.
The budget was also among the best especially due to the fact that one percent point was cut from the income tax chargeable in the first RM50, 000. This means that he has provided some slight relief to approximately 1.2 million citizens in Malaysia, a country having a population of about twenty eight million. However, Mr Datuk Seri Najib Razak government cut by 20 sen/kg on sugar subsidy. This means that the sugar subsidy has been left at 34 sen/kg down from the previous 54 sen/kg. This has effectively brought down the bill of the sugar subsidy to RM278 million according to the current prices.
According to the budget tabled by the minister for finance, the government also plans to construct one hundred and twenty three thousand houses for the low income earning group. Those to benefit from this housing project are those earning between RM3000 and those earning RM5000.
Some of the other additional spending plans of the Barisan Nasional’s (BN) government in the coming year are;
- RM500 million for the rejuvenation of the Klang River through the River of Life project
- RM9 billion for use in the Mass Rapid Transit contracts
- RM200 million to be used in the “Halal” Industry Fund
- RM1 billion to be pumped in to the Bumiputera small and medium industries (SMEs)
- Minimum pension to be raised from RM720 to RM820 for those who have served the government for a minimum of 25.
- RM38.7 billion for the improvement of county education quality together with some additional RM500 for the training of teachers in core subjects of Bahasa, Science, Malaysia, Maths and English.
- Tax-free incentives together with grants for the set up of more new nurseries & kindergartens.
- RM1.2 billion for the programme of pre-school development.
- RM1 billion for upgrading schools, RM400 million to be given to national schools, and RM100 million each for Chinese, mission, Tamil, religious, MRSM and boarding schools
- “My First Home Scheme” program which is an income limit for individual loans and it is to be increased up from RM3,000 to RM5,000 every month & up to RM10,000 for joint loans given to married couples.