Budget 2010 as announced by the PM

Datuk Seri Najib Tun Razak, the Prime Minister today tabled the 2010 Budget which totaled some RM191.5billion. The Budget came with the theme “1 Malaysia Together We Prosper” would be the foundation for a new economic model as well as functioning as the precursor for the upcoming 10 Malaysian Plan (10MP). Among those included in the Budget are:

- GDP to be revised to -3% instead of -4% to -5% as projected previously
- Easier for overseas skilled/qualified people to get PR status and Visas will be granted to family members within 14 days.
- RM100millin allocated in the CSR fund for social programmes
- Tax relief for patent and copyright registration
- Tax relief for individuals with broadband internet subscription of up to RM500 from 2010 to 2012.
- RM6billion allocated for the agriculture sector in irrigation of paddy fields, fish production, fruit farming, livestock farming infrastructure and training
- RM2 billion to subsidize farmers and fishermen
- RM9 billion for finance of infrastructure of projects involving road, projects and transport facilities
- Allocation of RM1.5billion to promote green technology in the form of soft loans to business which uses and supply green technology
- A RM200million Creative Industry Fund channeled through Bank Simpanan Nasional to finance advertisements involving film, drama, music and animation
- RM30 billion to enhance primary and secondary schools throughout the country
- 30 National scholarships based strictly on merit for the crème de la crème of students
- Starting 2010, PTPTN loans to be converted to scholarships for students who graduate with 1st class honours in their degree
- University students to be offered a netbook package which includes free broadband services at RM50 monthly for 2 years
- RM100million for the Permata programme which involves early childcare and education including gifted child programme
- Reviewing of Moneylenders Act 1951 and enforcement of Anti-Money Laundering and Anti Terrorism Financing Act 2001 to curb abuses by loan sharks
- 100% foreign ownership in corporate finance and financial planning companies
- Setting up of 14 Special Corruption Sessions Courts and 4 Special Corruption Appeal High Courts to curb corruption
- A service charge of RM50 per year for principal and RM25 for supplementary card starting 2010 to promote prudent spending
- Fuel subsidies to be implemented using MyKad
- Day care and education centres to be provided for children of civil servants by all government departments and ministries
- Individual tax rates to be reduced to 26% for 2010 and personal relief increased to RM9,000
- RM1 billion to be allocated for the police force to enhance its services which includes more mobile police stations in 50 hotspots of crime
- EPF contributors allowed to utilized current and future savings in Account 2 for house ownership
- EPF contribution to be increased to 11% based on voluntary basis
- EPF and Life insurance scheme used for personal relief to be increased to RM7,000


comments


This budget is nothing to shout about as it is not professionally researched, to addressed the lower income sectors hardship. One of the excellent example is more allocation to be spend on mobile police beat. Hello minister incharge, asked musang why all the many police beat already built but unused, abondon, stored at some police stores. Not surprised future audit revealed the cost of a basic pondok polis is rm250k

I feel for medium level, we dont benefit anything from NAJIS budget. Such as reduce personal income tax 1%, is only for those annual income RM100,000 above...only people like NAJIS will benefit...why RICH people paying less tax, and POOR people paying MORE tax???

what kind of sutpid budget is this NAJIS?