PETALING JAYA: Nine million recipients see a RM600 increase in Rahmah Cash Aid to RM3,700, up from RM3,100.
PETALING JAYA: Fiscal discipline and sustainability are the key drivers behind Budget 2024, say economists as the Madani administration sets out to reform the economy while continuing to aid low income and vulnerable groups.
The administration has earmarked RM393.8bil for 2024 of which RM90bil will be spent on development and RM303.8bil will be used for the government’s operating costs.Lee said one of the main thrusts of the administration’s roadmap was that blanket subsidies for diesel, electricity and chicken and eggs, would be trimmed and redistributed to low income households and the marginalised.
“The details of how the government will do this will come later because it has to get public buy-in for it but the important thing is that the method must be credible, comprehensive and well communicated,” said Lee. In addition to trimming subsidies, another major thrust of the budget is new taxes , raising current taxes and enforcing new ways to collect taxes .
Barjoyai of Universiti Tun Abdul Razak said these measures could potentially bring in income from the “grey market” to the tune of between RM40bil and RM50bil in four to five years.
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