Continue, improve initiatives for B40 group, government urged
KUALA LUMPUR: The government should continue and improve existing initiatives for the B40 (Bottom 40) income group, say economists.
Bank Islam Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said measures should be in place to ensure that the money spent by the government benefited the target group.
“The database for beneficiaries must be updated so that only those who are eligible will get it.
“For example, if pensioners receive pension and, at the same time, get financial assistance from their children, then the government’s assistance should be reduced or excluded.
“There should be visits or communication with the beneficiaries to assess the actual situation. This will ensure more equitable and inclusive distribution of national income,” he told NSTP Business.
MIDF Research chief economist Dr Kamaruddin Mohd Nor said move to improve the rakyat’s well-being is one of the government’s key principles.
“Among key initiatives to achieve the objective is to ensure that each community is given an opportunity to prosper. “Equality for target groups, such as the B40, in terms of opportunities, education, business and healthcare can help bridge the gap between the rich and poor.
“Policies and plans to assist the B40 group should be continued and their effectiveness measured. The social movement will have a positive impact on the domestic economy,” he said.
The 2018 Budget saw initiatives introduced to help improve the lot of the B40 group. For example, there was a two per cent reduction in individual tax rate for those with taxable income of between RM20,000 and RM70,000 per year.