PETALING JAYA: Nine million recipients see a RM600 increase in Rahmah Cash Aid to RM3,700, up from RM3,100.
Watching with interest: Fishermen amran Mohd , 50, and Ibrahim Manan, 47, watching the live telecast of the tabling of budget 2024 by anwar in Parliament via smartphone before disposing palm leaves at the Seberang Marang fishermen’s wharf in Marang, terengganu. — bernamaLiving up to the pre-Budget expectation that subsidy rationalisation will feature prominently, Prime Minister Datuk Seri Anwar Ibrahim, who is also the Finance Minister, did not disappoint.
Such a move will come in stages starting next year, and the reprioritising of subsidies will see Malaysians pay more in service tax from 6% to 8%. We see that the allocation for healthcare got the biggest lift as this was bumped up to RM41.2bil, with medical supplies getting a princely sum of RM5.5bil that will surely please Malaysians who will directly benefit from better healthcare services in the country.
Maybe that is also a reason why the government forecast for inflation has such a larger 1.5% buffer between the lowest and highest projections of 2.1% and 3.6%. It is also backing such initiatives with seed money to get the New Industrial Master Plan up and running with RM200mil investment into its broader targets.
All the spending and the redistribution of subsidy monies indicates the government’s commitment to the just passed Public Finance and Fiscal Responsibility Act.
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