BRIDGING the GAP

At a glance, what comes across from Budget 2020 is that there is an attempt to close the disparities between the rich and the poor, the races as well as the urban and rural folk.

Key points:

Bantuan Sara Hidup

Singles 40 years and above and earning less than RM2,000 as well as disabled individuals aged 18 and above get RM300; also eligible for MySalam insurance scheme.

Public Transportation

To improve last-mile connectivity, government allocates RM450mil to acquire 500 electric buses and RM146mil to subsidise bus operators.

Tourism

RM90mil to drive awareness, promotions and programmes for the Visit Malaysia 2020 campaign, with tax breaks given to organisers of major events.

Combating Corruption

Malaysian Anti-Corruption Commission to be boosted with 100 additional personnel, RM50mil allocated for installation of 11,500 units of CCTV in police detention centres and immigration entry points.

Bumiputra

RM445mil grant to support bumiputra entrepreneurial development, in terms of access to financing, provision of business premises and entrepreneur training.

5G Technology

Government introduces 5G Ecosystem Development Grant worth RM50mil.

Targeted Fuel Subsidy

For BSH recipients, RM30/ month for car owners and RM12/month for motorcycle owners in cash transfer. Non-BSH recipients get ‘Kad95’ card to enjoy discount of 30 sen per litre.

Toll

Toll rates for cars at the Second Penang Bridge will be reduced from RM8.50 to RM7 effective Jan 1, 2020.

Health Insurance

MySalam scheme extended to cover 45 illnesses, age eligibility raised to 65 years and maximum gross annual income set at RM100,000 – benefiting an additional five million Malaysians.

Goods and Services Tax (GST)

Government does not intend to bring back GST to respect the mandate given by voters in GE14.