The budget 2020 was just unveiled and many Malaysians made sure to tune in. Our Finance Minister, Lim Guan Eng delivered a long and powderful breakdown that lasted 2.5 hours! He was delivering his speeches non-stop btw.
With soooo many things he highlighted, here are some that we found interesting!
(Note: There are a lot of things we’ve not included in this list as well)
1. RM20 mil allocation to Cradle (A body that provide grants to local entrepreneurs)
2. RM10 mil to MDEC to train entrepreneurs and tech experts
3. RM20 mil to E-sports
4. RM200 mil to women entrepreneurs
5. RM1.1 billion to Tourism Malaysia to promote our country as a travel destination and its cultures
6. International theme parks are excluded from tax to encourage foreign investment
7. RM100 mil for cable car infrastructure in Bukit Bendera
8. Malaysia will make 2020 the year for health tourism
9. RM140 million allocated to unemployed graduates; where graduates who are unemployed for more than 1 year are able to get RM500 per month for 2 years!
10. RM30 mil to taska in hospital and schools
11. Minimum wage is increased to RM1,200 a month in major cities (as opposed to RM1,100 in 2018)
12. RM64.1 billion to Ministry of Education
13. RM23 mil to schools to ensure they are OKU-friendly
14. RM1 bil to build roads in suburbs and rural areas; where RM326 mil is allocated to Sabah, and RM224 mil is to Sarawak
15. RM5.1 bil allocated to building developments in Sabah and RM4.4 bil in Sarawak
16. Singles who are above 40 years old and earns less than RM2,000/month can get RM300 allowance
17. RM25 mil will go to a food bank that covers the whole country
18. RM4.5 mil to aid the homeless people
19. RM20 mil allocation to “program banduan” where they help the convicts in terms of shelter, food and more
20. 18% discount on highway tolls; which helps the rakyat save a total of RM1.13 bil
21. Toll fees are reduced 30% (during peak and normal times), and it’ll be FREE during non-peak hours
*This applies four major highways in Klang Valley, which includes Shah Alam Expressway (KESAS), Damansara-Puchong Expressway (LDP), SPRINT Expressway and the SMART Tunnel (SMART).
This toll discount will be applicable across all PLUS highways at the moment and will see a minimum reduction of 18% on average toll charges.
22. To install CCTVs at police lockups and immigration entrances
Also read: Budget 2020: Unemployed Graduates Whom Enter First Job Will Get RM500 Per Month For 2 Years
