Finance Ministry Awaits Decision on Digital Wallet Scheme

[snoop1130]

 

BANGKOK (NNT) - The Ministry of Finance has revealed it is on standby for a decision from the Council of State about the legality of a 10,000-baht digital wallet handout. The response, expected early in 2024, will determine the launch of the scheme slated for May.

 

A consultation with the Council of State was initiated regarding a 500 billion baht borrowing bill to support the scheme. The council’s decision will reveal if the plan complies with the 2018 State Fiscal and Financial Discipline Act, which allows for government borrowing in urgent situations.

 

Deputy Finance Minister Julapun Amornvivat clarified that the bill’s approval hinges on whether the economic circumstances qualify as a crisis. This assessment will consider factors such as the recent 1.5% GDP growth.

 

The campaign is part of a broader strategy to achieve a 5% annual GDP growth, aligning with the government’s economic goals. Eligibility for the handout is set for Thai citizens aged 15 and above who earn below 70,000 baht monthly and have less than 500,000 baht in bank deposits.

 

By Krajangwit Johjit

 

Full story: NNT 2023-12-20

 

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[AnnaBanana]

Who initiated this proposal?

Is investigative reporting totally dead in Thailand?

It has all the hallmarks of a populist vote-buying scheme thought up by the dragon head of our favorite crime family.

[hotchilli]

13 hours ago, snoop1130 said:

The Ministry of Finance has revealed it is on standby for a decision from the Council of State about the legality of a 10,000-baht digital wallet handout. The response, expected early in 2024, will determine the launch of the scheme slated for May.

The people are waiting....

[PETERTHEEATER]

Er......perhaps the Finance Minister could expedite the scheme.......😋

[Pouatchee]

17 hours ago, snoop1130 said:

The council’s decision will reveal if the plan complies with the 2018 State Fiscal and Financial Discipline Act, which allows for government borrowing in urgent situations.

 

Geeeez... how does giving 10 000 bht to those who qualify as urgent?

Did i read this article right?

 

How will the gvt indebting itself help with the gdp???

 

As many have posted here, i doubt many people will invest their free money wisely... actually they cant invest it at all, they must spend it 

[orchidfan]

Whilst living 70% of my time here in Los,  I also have permanent ID in Hong Kong.

Starting in Covid era, the government there has made several cash and "consumer coupons" in the order of $HKD10,000, $5000 etc,etc....and continues to do so now.

It goes/went to EVERY legitimate HKID holder.....rich and poor (and there are lots of rich Hongkongers )

It was simply paid into your nominated bank account or a cheque left at your local post office.

The most recent "consumer coupons" value has to be spent on local goods and services, and can be downloaded to one's rechargeable "Octopus card" which can be used on trains buses,supermarkets, ferries etc.

 

Ok,  there are only about 7million people there, however all these handouts have been achieved quickly,seamlessly and efficiently .

 

The gov't and finance ministry here could learn a lesson from them (it's only 2hrs away).

 

But,  as we all know, they hate taking outside advice and prefer to re~invent the wheel every time.

 

Lastly, during Covid, employees who were laid off were able to claim back their lost salary....from the gov't.

Employers were compensated if they kept staff on.

Again, all done very quickly and efficiently.

 

End of sermon !