The Malaysian government had just announced the Budget
2015 recently. The government has planned to allocate budget on
different sectors such as education, national security, tourism,
infrastructure projects and so on.
As
students, we concern about what can we benefit from the government
budget allocations. BYIC of UNMC has collected some budget allocations
information that relate to our lives to all UNMC students.
Government budget allocations that relate to students' lives
12. MyNDS will be a key basis to planning and preparation of programmes
and projects under 11MP. The emphasis is on using limited resources optimally, with focus on
high-impact projects and programmes at low cost as well as efficient and rapid
implementation.
This means Budget 2016 will be the trigger to the final five years of
Malaysia’s progress to a
high-income advanced economy by 2020.
19. Taking into account the needs of the rakyat
and the realities of life, the basis for the formulation of this year’s budget must therefore emphasise the balance
between the capital economy and people’s economy.
20.The Capital Economy refers to economic management and policies from
the macro perspective.
This will facilitate a country to set its main targets and benchmark against
other countries.
These include economic management based on capital, GDP growth, per
capita income, private investment, capital market, corporate profits, sovereign
and credit ratings, Bursa index and share value.
Hence, I will now call it the Capital Economy.
21. When we refer to the People’s Economy, it is an economy that is rakyat-orientated covering
priorities and interests of the rakyat such as cost of living, household
income, education opportunities, employment and business, quality of life, skills
training, entrepreneurship as well as security and safety.
41. The
Government will introduce a new shariah-compliant investment product in 2015
called the Investment Account Platform (IAP).
IAP will provide opportunities to investors in financing entrepreneurial
activities and developing viable SMEs.
At the same time, IAP will be a platform to attract institutional and
individual investors including high net worth individuals to invest in the
Islamic financial market.
Initially, IAP will be implemented with a startup fund of RM150 million.
56. The High-Speed Broadband (HSBB) will continue to be implemented in
areas of high economic impact, covering state capitals and selected major towns
nationwide.
A sum of RM2.7 billion will be spent over the next three years to build
1,000 new telecommunication towers and laying of under sea cables.
65.During the announcement of GST in the 2014 Budget, the Government
proposed not to impose GST on basic food items and services.
Based on the feedback received from all segments of society, the
Government agrees to widen the scope of items that will not be subjected to GST
as follows:
(i) All types of fruits whether local or imported;
(ii) White bread and wholemeal bread;
(iii) Coffee powder, tea dust and cocoa powder;
(iv) Yellow mee, kuey teow, laksa and meehoon;
(v) The National Essential Medicine covering almost 2,900 medicine
brands. These medicines are used to treat 30 types of diseases including heart
failure, diabetes, hypertension, cancer and fertility treatment;
(vi) Reading materials such as children’s colouring books, exercise and reference books, text books,
dictionaries and religious books; and
(vii) Newspapers.
69. Meanwhile, about 354 goods and services may experience some price
increase but less than 5.8%.
The Government hopes that traders will be responsible and not raise
prices indiscriminately to burden the rakyat.
The Government will disseminate shoppers’ guide to enable consumers compare prices before and after the
implementation of GST.
70. Indeed, with the implementation of GST, the Government will be able
to reduce the tax burden on the rakyat as follows:
First: For individuals and households for year of assessment 2015
(i) Individual income tax rates will be reduced by 1 to 3 percentage
points. With this measure, 300,000 individual taxpayers will no longer pay
income tax.
(ii) Tax payers with family and income of RM4,000 per month will not
have tax liability.
(iii) Individual income tax will be restructured whereby the chargeable
income subject to the maximum rate will be increased from exceeding RM100,000
to exceeding RM400,000. The current maximum tax rate at 26% will be reduced to
24%, 24.5% and 25%.
This will result in the existing taxpayer enjoying a tax saving of at
least 5.3%.
89. Since the establishment of Perbadanan Tabung Pendidikan Tinggi
Nasional (PTPTN) in 1997 to date, 2.1 million borrowers have taken loans worth
RM47.8 billion.
However, as at 31 August 2014, only RM5.36 billion or 46% of RM11.76
billion has been collected.
90. Sadly, 174,000 borrowers have not made any payments since 2010.
As such, the Government will take appropriate new measures to recover
the outstanding loans.
92. To encourage repayments, the Government proposes that a 10% rebate
is given to borrowers who continuously make repayments for 12 months until 31
December 2015.
An additional 20% discount will be offered to borrowers who make lump
sum repayments from today until 31 March 2015.
94. To date, it is estimated that 53,000 graduates remain unemployed
after six months of graduating.
To enhance graduates’ employability,
the Government proposes that the curriculum and skill training programmes at
public skill training institutions as well as institutions of higher learning
be reviewed.
For this, Talent Corp will provide RM30 million for Industry Academia
Collaboration programme where universities, Government entities and industries
will collaborate to develop the curriculum for the internship programmes and
industrial training.
100.The Government aspires to position Malaysia as a choice location for
Startups in the region.
Among the efforts is the establishment of MaGIC which aims to create a
more conducive ecosystem to facilitate the Startups to commence operations.
To attract more expatriate entrepreneurs establish Startups in Malaysia,
the paid-up capital for Startups is set at RM75,000.
Eligible expatriate Startup entrepreneurs will be given Work Pass for
one year.
120. Presently, women represent only 38% of the total workforce in the
country. To enhance the contribution of women in national development, the
Government will continue to focus on efforts to intensify the involvement of
women in the job market and entrepreneurial activities. For this purpose, the
Ministry of Women, Family and Community Development is allocated RM2.26 billion
for development and operating expenditure. Among the programmes include:
First: Strengthening Women Directors Programme to achieve the 30%
participation of women in decision-making positions. In 2015, the Government
plans to train 125 potential women directors to fill the position as members of
the board of Government-linked companies and the private sector. I urge the
Government-owned companies and the private sector to provide more opportunities
for professional women to be represented in Boards of Directors;
Second: Improving opportunities for women to return to the job market
through the 1Malaysia Support for Housewife programme which emphasises skills
training and incentives for housewives; and
Third: Talent Corp will set up the Women Career Comeback Programme for
professional women returning to the job market based on professional
qualifications.
125. Youth are not only the hope of the nation, not just an asset or
even a partner in national development, but more valuable than all of the
above. Therefore, the Government recognises the role of youth in becoming
future leaders and upholding the responsibility of further developing and
prospering our beloved nation.
126. In order to achieve this aspiration, the Government will launch the
National Youth Transformation Programme. To successfully implement the youth
programmes, a sum of RM320 million is allocated as follows:
First: Review the existing National Service Training Programme or PLKN,
and introduce a new concept that incorporate skills requirement and patriotism
which will be introduced shortly;
Second: Improve the Rakan Muda programme and introduce Unity Camp
programme;
Third: Strengthen youth leadership through Youth Leadership Academy
programme to hone leadership skills among Malaysian youth;
Fourth: Intensify youth volunteerism programmes through 1M4U and
introduce MyCorp programme. The MyCorp programme involves welfare and
socio-economic volunteer activities for youth at the international level with
an allocation of RM10 million;
Fifth: Enhance entrepreneurial talent among the youth through the
programmes under Malaysian Global Innovation & Creativity Centre (MaGIC),
SME Bank and Agro Bank as well as introduce Online Resource Centre and organise
an international social entrepreneurship conference;
Sixth: Implement the Youth Agropreneur Programme under the purview of
FAMA involving 1,200 youth and targeting a monthly income exceeding RM5,000;
and
Seventh: Increase the capacity and skills of youth through National
Youth Vocational Institute (IKBN) Transformation and Coding Bootcamp programmes
as well as PADU programme (Projek Angkat Dan Upaya).
128. When we review the needs of youth, home ownership appears to be a
big issue especially cost of houses and financing. Recognising this problem,
I'm glad to announce the Youth Housing Scheme which is a smart partnership
between the Government, Bank Simpanan Nasional, Employees Provident Fund and
Cagamas.
129. The scheme offers a funding limit for a first home not exceeding
RM500,000 for married youth aged between 25 and 40 years with household income
not exceeding RM10,000. The maximum loan period is 35 years.
133. The Government will take concerted efforts towards transforming
Malaysia into a sporting nation. For this, the Government will implement a
Sporting Nation Blueprint. To achieve the aspiration, the Government has
allocated RM103 million to implement the following measures:
First: Ensure the sustainability and continuity of sports talent
starting from primary school through Malaysian Talent Identification programme.
The programme involves testing, screening and talent specialisation among
students;
Second: Improve the quality of high-performance sports for six selected
fields in the first phase namely Soccer, Cycling, Badminton, Sepak Takraw,
Swimming and Athletics;
Third: Foster FitMalaysia Programme with focus on physical fitness; and
Fourth: Celebrate National Sports Day on the first Saturday in November
every year with simultaneous participation of the public and private sectors as
well as the rakyat nationwide.
142. To improve the public transport system, the Government will
introduce the following programmes:
First: Provide intercity bus services to those residing outside Kuala
Lumpur (KL) but work in KL. The service will be offered with a discounted
monthly fare of 30%. For a start, three bus routes will be operational namely
the Rawang-KL; Klang-KL and Seremban-KL;
Second: Provide Electric Train Service (ETS) for Ipoh-Butterworth route
starting April 2015; and
Third: Upgrade stage bus services in several states through a
contracting system with existing bus companies. The programme will be
implemented in phases in Kuching, Ipoh, Seremban, Kuala Terengganu and Kangar.
145. For health services and facilities for the rakyat, the Government
will allocate RM23.3 billion to implement the following initiatives:
First: Build two hospitals namely Hospital Dungun in Terengganu and
Hospital Seri Iskandar in Perak. Another 20 Health Clinics and four dental
clinics, including health clinics in Kuala Lipis, Pahang and dental clinic in
Kluang, Johor will be built;
Second: Establish an additional 30 1Malaysia clinics, bringing the total
to 290 clinics nationwide and build a health clinic in Cyberjaya. The
Government will station 30 doctors in these clinics;
Third: Replace 635 units of haemodialysis machines in Government
hospitals and clinics with an allocation of RM30 million. To encourage private
sector participation, the Government will also provide space in Government
hospitals and health clinics to place another 244 haemodialysis machines which
will be contributed by the private sector as part of their corporate social
responsibility; and
Fourth: Provide medicines for patients undergoing chronic and acute
haemodialysis treatment with an allocation of RM45.4 million.
146.
Currently, expenses incurred for
treatment of serious diseases such as cancer, kidney failure and heart attack
are given a tax relief up to RM5,000 per year. To reduce the burden of medical
expenses and treatment of serious diseases, the Government proposes the
existing tax relief be increased to RM6,000 per year. The relief is available
to the tax payer, the spouse and children.
147.
Currently, the dengue fever epidemic is
getting worse. To contain the epidemic from spreading, dengue prevention
programme will be enhanced through community awareness and purchasing dengue
prevention equipment such as reagents, Ultra Low Volume and Mist Blower. Apart
from that, the Government will distribute 55,000 dengue test kits free of
charge to private clinics to expedite early dengue detection process. For this,
RM30 million will be allocated.
156. Water supply is important for our daily life as well as for
industries. In this regard, the Government will formulate a National Water
Blueprint to ensure sustainable long-term water supply nationwide. These
include holistic management of rivers, construction and improving water
treatment plants.
157. Water supply sources will be diversified through groundwater
exploration, and reuse of treated water for industries and agriculture as well
as expanding the use of storm water retainer system. To address water supply
shortage in the Klang Valley, the construction of Air Langat 2 Water Treatment
Plant will be expedited. Costing RM3 billion, the plant will increase the
supply of treated water to 1,130 million litres daily.
160. The Government is committed to reducing the crime rate in the
country, one of the NKRAs. For this, the Government will increase the intake of
policemen by 11,757 personnel, build 14 Police Headquarters (IPK) and Police
Stations including a new block for IPK Perlis as well as strengthen the PDRM
police patrol through the purchase of 1,000 units of motorcycles.The Government
will also allocate RM121 million for PDRM to implement various programmes under
NKRA.
161. To increase the readiness of ATM's personnel and assets, RM7
billion will be allocated to purchase and maintain the defence assets. Apart
from this, the welfare of armed forces personnel will also be improved,
including health services and housing.
162. Meanwhile, to improve maritime safety, APMM will be allocated RM393
million. This is for improving operational efficiency and the purchase of seven
new patrol vessels.
163. Jabatan Sukarelawan Malaysia or RELA under the Ministry of Home
Affairs will continue to be a voluntary agency to assist the security forces to
maintain peace and security of the nation. A sum of RM117 million will be
allocated to strengthen the role of RELA, particularly for training and
capacity building.
* The 11th Malaysia Plan will be launched in
May 2015
* This year Malaysia will achieve strong
economic growth between 5.5 per cent and 6.0 per cent;
