Malaysia Budget 2017 live updates

» RM1.3 billion is allocated to increase food production at a competitive price

» Proposal for RM5,000 grant to purchase new vehicles and offer individual taxi permits, with an allocation of RM60 million, in move to benefit 12,000 taxi drivers

» BR1M recipients in B40 group to be encouraged to participate as ride-sharing drivers like UBER drivers

» Government to extend eVisa to countries in the Balkans and South Asia regions

» MCMC to provide RM1 billion to ensure coverage and quality of broadband nationwide reaches up to 20 megabytes per second

» 616KM of village roads and bridges will be built and upgraded with RM1.2
billion to enhance connectivity of villages, towns and cities

» RM4.6 billion allocated to all states under the Malaysian Road Records
Information System (MARRIS) to maintain state roads

» RM350 million to build and refurbish 17,000 units of destitute and
dilapidated houses in remote villages and Orang Asli settlements

» RM 800 million allocated to implement People-Friendly Projects,

» 69 flood mitigation plans to be continued nationwide with RM495 million allocation

» 5,000 unit of MyBeautiful New Home scheme under NBOS for B40 group with allocation of RM200 million, government finance RM20,000, remaining will be paid as instalments by owner

» RM275 million proposed for various initiatives to improve rakyat's income opportunities especially B40 group

» Nearly RM10 billion provided to ease the cost of living, including cooking gas subsidies; toll charges; and public transport.

» BR1M will be increased to RM1,200 for households in e-Kasih database earning below RM3,000

» For households earning between RM3,000 & RM4,000, BR1M will be increased to RM900

» BR1M will be increased to RM450 for single individuals earning below RM2,000

» TVET education capacity will be enhanced with allocation of RM4.6 billion to TVET institutions

» Government provide vacant lands at strategic locations to GLCs and PRIMA to build more than 30,000 houses with the selling price between RM150,000 and RM300,000

» Build about 10,000 houses in urban areas for rental to eligible youths with permanent job including young graduates

» New special "step-up" end-financing scheme for the PRIMA programme. Through this scheme, financing will be easier and more accessible to the buyers with total loan up to 90% to 100%

» 4 more UTC in Negeri Sembilan, Perlis, Pulau Pinang and Selangor, 3 more RTC in Selangor, Sabah and Sarawak will be built with an allocation of RM100 million

» Lifestyle tax relief up to RM2,500 from 2017 will include purchase of printed newspapers, smartphones and tablets, internet subscriptions and gym membership

» RM40 million for 1Malaysia English, Coding in schools, Volunteering for International Professional and Global Entrepreneurship Community 2

» RM1.2 billion allocated for sports, including RM450 million especially for hosting 29th SEA Games & 9th Para ASEAN Games in 2017

» RM25 billion allocation proposed for various health programmes

» RM20 million allocation in form of loans for NGOs to operate non-profit charitable hospitals based on government hospital rates

Total approved foreign investment was more than RM28 billion during the first half of 2016

Fully paid study leave with scholarship to civil servants in support group

Quarantine leave up to 5 days without record to public servants whose children are ill and required to be quarantined

Public servants' housing loans eligibility to be increased to between RM200,000 and RM750,000

Introduce a grade 56 between grade 54 and JUSA C for medical and dental specialists

Under development expenditure, economic sector receives highest share of RM25.9 billion, social sector (RM12.2 billion), security (RM5.3 billion)

Revenue collection is expected to expand at 3% to RM219.7 billion

Government is expected to achieve the fiscal deficit target of 3% of GDP in 2017

GST collection reached nearly RM30 billion as of 19 Oct 2016



Malaysia's Purchasing Power Parity (PPP) has increased from US$23,100 in 2012 to US$26,891 in 2015


Important areas of concern were housing, reducing the cost of living.. 



Please check "Prduent spending".. this hints the entire budget!!

The budget comes with the theme "Ensuring Unity and Economic Growth, Inclusive Prudent Spending, Well-being of the Rakyat"

Prime Ministry Najib said that important areas of concern were housing, reducing the cost of living and various other issues which the Government had identified.
Update:
RM214.8 billion for operating expenditure and RM46 billion for development expenditure.

RM77.4 billion is for emoluments (salaries, fee for state employees) and RM32 billion for supplies and services

Update: A total of RM260.8bil has been allocated for Budget 2017, said Prime Minister Datuk Seri Najib Tun Razak. (this marked a 3.4% increase from the 2016 revised budget.)


Malaysian Economic outlook:
THE Malaysian economic growth is expected to remain within the 5% band next year. According to the Economic Report for 2016/2017, growth is expected at between 4% and 5% in 2017 underpinned by strong domestic demand especially private sector spending.

Prime Minister Datuk Seri Najib Razak, who is also finance minister, is scheduled to table the much-anticipated 2017 Budget in the Dewan Rakyat today at 4pm.

The Budget is likely to focus on tackling the cost of living especially in terms of housing, food and transportation, in line with the government’s principle of “People First, Performance Now”.

Stay Tuned for budget highlights and updates..