Digital Wallet Scheme Delayed Over Detail Shortage

[webfact]

 

The House Budget Scrutiny Committee has decided to place the 152.7 billion baht budget for the government’s 'digital wallet' scheme on hold, citing insufficient details about the project.

 

Takorn Tantasith, a Thai Sang Thai party-list MP and a member of the committee, revealed through a Facebook post that the committee demanded comprehensive details from the Office of the Permanent Secretary of Finance before they could approve the funding.

 

Similarly, Sirikan Tansakul, a Move Forward party-list MP and committee member, mentioned in her "X" post that the only information provided was a single page indicating the budget amount. There was no further elaboration on the project’s specifics or the responsible state agencies.

 

The program aims to roll out a 500 billion baht populist scheme, which will be financed through various sources. 175 billion baht will come from the 2024 fiscal budget, 152.7 billion baht from the 2025 fiscal budget, and an additional 172.3 billion baht will be borrowed from the Bank of Agriculture and Agricultural Cooperatives.

 

 

The scheme promises a one-time benefit of 10,000 baht to all Thai citizens aged 16 and above, under specific conditions. Eligible recipients must have an annual income not exceeding 840,000 baht, or combined bank account deposits not above 500,000 baht.

 

The government envisages that this digital wallet initiative would inject a much-needed financial boost to its citizens. However, with the lack of substantial details and an outlined plan, the committee found it necessary to postpone the budget approval. The hold on the budget will stay in place until a detailed, transparent plan is presented by the concerned authorities.

 

As citizens await more information, the delay raises questions about the government's preparedness and transparency in managing such a significant financial initiative. It remains to be seen how quickly the authorities will respond to the committee’s call for more detailed information.

 

TOP Picture courtesy: The Government Public Relations Department

 

-- 2024-06-27

 

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[hotchilli]

2 hours ago, webfact said:

The House Budget Scrutiny Committee has decided to place the 152.7 billion baht budget for the government’s 'digital wallet' scheme on hold, citing insufficient details about the project.

Insufficient funds more like.

[lordgrinz]

Who needs details, just make a proclamation, no need for transparency or written regulations for disbursement. I mean their are a ton of drooling politicians and desperate mia-noi's waiting to gobble up all this loot. Prawit may already have multiple orders for new Patek Philippe watches to add to his collection, rubberstamp this quickly!

[Srikcir]

4 hours ago, webfact said:

The government envisages that this digital wallet initiative would inject a much-needed financial boost to its citizens.

A populist plan not even endorsed by the MFP. From the day of its original announcement, never been funds to pay for it, even now with the new global income tax scheme. I can appreciate this vision but the "government" is not truly the "government" of the Thai people despite its gift-giving bait used by the Prayut government to garner public election support (which failed spectacularly in 2023).

Fix the economy, not the people.

[Thingamabob]

This is a vote-buying scam. Sadly some Thais are not capable of figuring that out.

[lordgrinz]

3 minutes ago, Thingamabob said:

This is a vote-buying scam. Sadly some Thais are not capable of figuring that out.

 

Average IQ here is 88, so.

Edited June 27 by lordgrinz

[redwood1]

Any Thai citizen who has been in desperate need of this money...

 

Is already dead...

 

So no need to worry about any more delays..

[Tropicalevo]

 

28 minutes ago, Thingamabob said:

This is a vote-buying scam. Sadly some Thais are not capable of figuring that out.

.

The voting population figured it out perfectly. (They get paid even in local elections, except there it is cash in hand.)

They are just waiting to get the money.

If they do not get the 10,000 baht, then the next election will be interesting.

[BangkokHank]

If they really wanted to give everybody 10,000 baht, they could do it without the digital wallet. This is just an attempt to lure people into slavery via a central bank digital currency that can track all expenditures, as well as prevent anyone who opposes the regime from being able to spend their money. It's a totalitarian's dream. I hope it doesn't go through.

[Mr Meeseeks]

1 hour ago, lordgrinz said:

 

Average IQ here is 88, so.

 

I would be surprised if it is that high tbh.

Edited June 27 by Mr Meeseeks

[Mr Meeseeks]

4 minutes ago, BangkokHank said:

If they really wanted to give everybody 10,000 baht, they could do it without the digital wallet. This is just an attempt to lure people into slavery via a central bank digital currency that can track all expenditures, as well as prevent anyone who opposes the regime from being able to spend their money. It's a totalitarian's dream. I hope it doesn't go through.

 

It is a clever way to ensure the money is spent where they want it to be spent.

 

As with every scheme in Thailand, where the money will end up and who it benefits is always the most important consideration. 

 

Cannot have too much of the handouts going on utility bills or essentials. 

[lordgrinz]

3 minutes ago, Mr Meeseeks said:

 

It is a clever way to ensure the money is spent where they want it to be spent.

 

As with every scheme in Thailand, where the money will end up and who it benefits is always the most important consideration. 

 

Cannot have too much of the handouts going on utility bills or essentials. 

 

I'm betting almost all of it ends up in the pockets of the CP Group.

[OneMoreFarang]

7 hours ago, webfact said:

citing insufficient details about the project

 

Good that they delayed this scam.

 

If it would be designed to help the people and the economy in general, then they would make it transparent and publish all the details.

The fact that there is no independent impact study (at least as far as I know), and not official detailed plan, and no transparency, are clear indicators that the Thaksin government is planning another scam to make billions for the already rich and powerful.

Stop them!

[Mr Meeseeks]

3 hours ago, OneMoreFarang said:

The fact that there is no independent impact study (at least as far as I know), and not official detailed plan, and no transparency, are clear indicators that the Thaksin government is planning another scam to make billions for the already rich and powerful.

 

Normal for anything that the Thais do in my experience.

[BangkokReady]

10 hours ago, Thingamabob said:

This is a vote-buying scam. Sadly some Thais are not capable of figuring that out.

 

Thais are perfectly aware of how Thaksin operates.  It's very effective and he has used this "extreme vote buying" tactic before.