KUALA LUMPUR, Oct 29 — Following are the highlights of Budget 2022 tabled in Dewan Rakyat today by Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.
Themed ‘Keluarga Malaysia, Makmur Sejahtera’, Budget 2022 is anchored on the three-pronged strategy of boosting recovery, building resilience and driving reform.
- Budget 2022 provides an allocation of RM332.1 billion, the highest allocation compared to previous budgets.
- Government to introduce Bantuan Keluarga Malaysia (BKM) which will provide aid totalling RM2,000 to households with monthly income below RM2,500 with three or more children.
- BKM: Additional RM500 to single mothers or fathers who have dependents and a monthly income of RM5,000.
- BKM: Additional RM300 to be given to families with senior citizens.
- Government to provide RM25 million to Yayasan Keluarga Malaysia to lead efforts to protect the welfare, education and future of children who have lost their parents due to Covid-19.
- Health Ministry to get RM32.4 billion for operating and development expenditures.
- Government plans to provide individual tax relief, company tax deduction on costs of Covid-19 vaccine booster shots.
- Government plans to expand excise duties imposed on sweetened drinks and on liquid or gel products containing nicotine.
- Government agrees to extend the contract of over 10,000 medical, dental and pharmacy officers for a maximum of four years after completing their compulsory service period.
- RM100 million allocations to sponsor specialist programmes for 3,000 contract doctors and dentists.
- RM70 million to prioritise mental health issues.
- Education Ministry to receive highest ever allocation of RM52.6 billion, Higher Education Ministry to get RM14.5 billion.
- Government agrees to provide Back-to-School Aid of RM150, expected to benefit 3 million students.
- RM1 billion for maintenance and repair of schools, including RM140 million to the Department of Islamic Development Malaysia (Jakim).
- RM120 million for Chinese and Tamil vernacular schools.
- RM746 million to upgrade dilapidated schools.
- RM50 million to empower special education agenda, including for the purchase of teaching equipment and improving school facilities.
- RM400 million for daily milk supply under the Supplementary Food Programme.
- Over 400,000 teachers under the Education Ministry to receive a one-off payment of RM100 through the Special Incentive for Teaching Aids.
- 600,000 undergraduates from B40 families to get one tablet each involving an allocation of RM450 million.
- Special tax relief of up to RM2,500 for the purchase of mobile phones, computers and tablets until Dec 31, 2022.
- Discounts for PTPTN loan repayments of between 10 and 15 per cent from Nov 1, 2021, until April 30, 2022.
- RM6.6 billion to strengthen the Technical and Vocational Education and Training (TVET) field.
600,000 jobs are to be made available with an allocation of RM4.8 billion under the Jamin Kerja Keluarga Malaysia (JaminKerja) initiative.
- An incentive of 20 to 30 per cent from monthly salary to employers who hire those who are not actively working.
- An incentive of 30 to 40 per cent from the monthly salary of RM1,200 to employers who hire persons with disabilities (PwDs), Orang Asli and prisoners.
- MySTEP to offer 80,000 jobs in the public sector and GLCs from January 2022.
- RM1.1 billion for training and upskilling programmes, to benefit 220,000 trainees.
- Tax exemption increased to RM2,000 for expenses incurred in attending upskilling courses
- Double tax deduction for companies providing scholarships to IPT students in all fields of study.
- Perlindungan Tenang vouchers to be increased to RM75 from RM50 previously.
- i-Saraan initiative to be extended to those aged 55-60 years old, benefitting 100,000 participants.
- RM80 million to help housewives and widows in EPF and SOCSO contributions under Program Kasih Suri Keluarga Malaysia.
- More than 810,000 self-employed workers to benefit from extended protection under SOCSO.
- Minimum pension rate under Socso’s Invalidity Scheme to be increased to RM550, to benefit 56,000 households.
- Tax exemption of up to RM4,000 to EPF contributors involving voluntary contribution.
- RM11.4 billion to empower Bumiputera.
- RM1.5 billion to manage and develop Islamic affairs under the Prime Minister's Department.
- One-off payment of RM500 to 70,000 imam, muezzin, mosque assistants and managers, takmir and KAFA teachers.
MORE TO COME
— Bernama
