Friday, October 7, 2011

Salient points of Budget 2012

RM13.6bil has been allocated for the social sector, including education and training, welfare, housing and community development

RM29.8bn has been allocated for investment in infrastructure, industrial and rural development.

Total revenue for 2012 is forecast to increase 1.9% to RM186.9bil and the deficit to decrease to 4.7% of GDP from 5.4% in 2011

- Full exemption of import duty and excise duty on hybrid cars and electric cars will continue to be given until 2013

- To promote tourism, the Langkawi Five Year Tourism Development Master Plan will be launched with an allocation of RM420mil

- A RM100mil SME Revitalisation Fund offering loans up to a maximum of RM1mil for entrepreneurs will be available from Jan 2012

RPGT: 10% for sale within 2 years, remains at 5% for sale between 2 to 5 years.

The Malaysia Healthcare Travel Council will be privatised to promote and develop Malaysia as a healthcare dest

We will abolish payments for primary and secondary education, making these free for the first time in our history

RM50.2bn will be allocated to the education sector so that it can continue to develop talented, creative and innovative people.

Private schools registered with the Ministry of Education will be given incentives including an Investment Tax Allowance.

The Govt will expedite tax exemption approvals for educational institutions and all places of worship

- RM5bil will be given to develop rural infrastructure, including RM1.8bil to the Rural Road Programme & Village-Link Road Project

600,000 Government pensioners will benefit from an additional annual pension increment of 2%.

Civil service retirement age increased from 58 to 60.

Civil servants will be offered tuition fee assistance for part-time studies, including 5,000 masters & 500 doctoral scholarships

- Civil servants get pay rise between RM80 to RM320

RM3,000 will be given to ex-members of the special constable and auxiliary police as well as widows and widowers.

The National Agro-Food Policy 2011-2020 will be launched and RM1.1bil allocated for the development of the agriculture sector

RM2.3 billion per year in food subsidy

total subsidy to the people RM33billion per year

500,000 will benefit from KAR1SMA, which provides assistance to poor senior citizens and children and disabled people

My First Home Scheme will be expanded to increase the limit of house prices from a maximum of RM220,000 to RM400,000

Govt will identify areas in the vicinity of MRT, LRT and other public transport to be developed by PR1MA

Govt will continue to implement the Program Perumahan Rakyat by building 75,000 units of affordable houses

Govt will establish the Special Housing Fund for Fishermen to build and refurbish houses(rm 300m)

- HKL to be upgraded with RM50m for new outpatient wing, RM250m general upgrades.

Healthcare will be allocated RM15bil operating expenditure and RM1.8bil development expenditure

Hospitals will be upgraded and constructed as well 81 rural health clinics upgraded and 50 new 1Malaysia clinics launched

Skim Amanah Rakyat (SARA) 1Malaysia will benefit 100,000 households with income below RM3,000 per month

To assist taxi owners facing increased operating costs, measures will be introduced including tax exemptions on taxi purchases

To assist the homeless the Government established a social assistance centre known as Anjung Singgah.

The National Legal Aid Foundation will ensure that every individual who is charged in court will be given free legal aid

A training allocation of RM10mil will be provided for women to develop leadership and managerial skills

to prevent cervical cancer, the Government will provide free Human Papilloma Virus immunisation nationwide.

MyCreative Venture Capital with an initial fund of RM200mil to be established

RM15mil will be allocated to build 150 futsal courts to achieve the “One Court for One Mukim” target

RM200mil to train youth

A Flood Mitigation Plan will be implemented in Perlis, Perak and Johor to help 4 million rakyat residing in flood-prone areas.

One-off assistance of RM500 to households with a monthly income of RM3,000 and below will be provided.

- Senior citizens aged 60 years & above will be exempted from outpatient registration fees in Govt hospitals & health clinics

Book voucher worth RM200 will be given to Malaysian students in all private and public institutions of higher learning.

Civil servants will be given an additional bonus of half-month salary and pensioners RM500

No comments: