RM6.5 bln to help farmers, fishermen, smallholders, rubber tappers

KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak yesterday unveiled Budget 2018 which aims at ensuring that the nation's wealth and prosperity are enjoyed equitably and inclusively through strong economic growth and competitiveness.

The budget allocates a sum of RM280.25 billion, with RM234.25 billion for operating expenditure and RM46 billion for development.

Revenue collection for next year is expected to record RM239.86 billion, Najib said when tabling in the Dewan Rakyat his ninth budget as the Finance Minister, with Barisan Nasional MPs wearing blue Baju Melayu or suits to create a strong blue wave in the house.

For the first time in the history of the nation's budget, a large allocation of RM6.5 billion is being provided to assist farmers, fishermen, smallholders and rubber tappers.

Yet-to-be-born Malaysians are among the recipients of the goodies, with a provision of RM200 as the initial savings fund through the Unit Trust Scheme of Permodalan Nasional Berhad for those born between Jan 1, 2018, and 2022.

More allocations were being provided for scholarships, research and development grants, technical and vocational education training, and upgrading and refurbishing 2,000 dilapidated schools nationwide apart from setting up a special fund for upgrading and maintenance of schools throughout the country.

Besides the goodies for the small entrepreneurs, there was also good news for Felda settlers, with more than 112,000 settlers to receive six main incentives including a special incentive of RM5,000.

The inclusive budget takes into account the welfare of the Bumiputeras, who account for almost 70 per cent of the total 32 million population, as well as the wellbeing of the Chinese, Indian and Orang Asli communities.