“Budget 2018”: Comprehensive and Holistic

By Amirul Hendra bin Abdul Rahman

KUALA LUMPUR, 2 November 2017 – The Budget 2018 recently tabled  by Prime Minister, Datuk Seri Najib Tun Razak fulfils the theme of ‘Prospering an Inclusive Economy, Balancing between Worldly and Hereafter, for the Wellbeing of Rakyat, towards the TN50 Aspiration’. Budget 2018 is seen as comprehensive featuring benefits that can be enjoyed by all groups of rakyat (people).

On the perspective of various layers of society, Budget 2018 should be considered as holistic in many aspects. A total of RM280.25 billion is allocated to the nation’s prosperity and people’s well-being. Allocation of RM234.25 billion for operating expenditure and RM46 billion for development expenditure proves an extraordinary commitment highlighted by the government in realising the country’s steady development and efforts towards the well-being of the rakyat.

Various incentives such as the granting of RM1500 to civil servants and a total of RM6.8 billion allocated to 7 million BRIM recipients satisfy the government’s initiative in assisting the lower income group of B40. A 2 percentage points of income tax cut will also help the middle-income group of M40. Women are also given various convenience such as the private sector’s mandatory maternity leave that should increase from 60 to 90 days.

Interestingly, Budget 2018 also benefits the new generation of TN50 by introducing the 2050 Amanah Dana Anak Malaysia 2050 (ADAM50) scheme through the granting of RM200 via Amanah Saham unit under Permodalan Nasional Berhad to every child born from January 1 next year to 2022.

Such comprehensive budget is hoped to further project the economic growth of the nation while prospering the welfare of the rakyat. ***

Photo courtesy of najibrazak.com

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