A TAXI DRIVER 2017 BUDGET UPGRADE

RM732 million to increase water supply to another 5,200 houses and upgrade FELDA water supply system. RM350 million to build and refurbish 17,000 houses in remote villages and Orang Asli settlements. RM4.6 billion to maintain state roads under Malaysian Road Records Information System. 616km of village roads and bridge to be built and upgraded. 97,000 new street lights and 3,000 LED lights at crossroads for 7,500 villages nationwide Single individuals earning below RM2,000: BR1M payments now RM450, up from RM400. Households earning RM3,000-RM4,000: BR1M payments increased from RM800 to RM900. Households in e-Kasih database with monthly income below RM3,000: BR1M payments now RM1,200, up from RM1,050. Limited to houses with value of up to RM300,000 between and Dec 31, 2018. Stamp duty exemption for first time home buyers increased to 100%. New 'step-up' end-financing scheme for PR1MA to make it easier for buyers to obtain financing. 12,000 units valued at RM3.3 billion has been booked. 1Malaysia People's Housing Project (PR1MA) is well-received. Approximately 10,000 homes to be built in urban areas for rental to youths with permanent jobs, including young graduates entering job market. Government-owned land to be used for 30,000 low-cost homes. Housing and Local Government Ministry to build 9,850 units of People's Housing Programme (PPR) houses. New MyBeautiful New Home scheme for bottom 40 percent income category (B40). 2,600 doctors who were unable to receive housemanship placements will be hired on contract. 30,000 Perumahan Penjawat Awam 1Malaysia to be sold to civil servants between RM90,000 and RM300,000, at 20% below market price. Housing loan scheme: Increased from RM120,000 and RM600,000 to RM200,000 and RM750,000 respectively. RM5,000 computer loan scheme now includes smartphones. Motorcycle loan scheme increased from RM5,000 to RM10,000. One-off RM500 payments for civil servants to be paid out in January 2017. Malaysia's PPP per capita has increased from USD23,100 in 2012 to USD26,891 in 2015. PM calls Malaysia a 'upper-middle income' country. New tax scheme for SMEs, will result in firms paying slightly lower taxes. Only 2.1 million income tax payers out of 14.6 million total workforce. Increase in GST rate? 'Hearsay,' says PM. GST collection as of Oct 19, 2016: RM30 billion. Fall in oil prices causes loss of RM30 billion in government revenue. Operating Expenditure: RM77.4 billion allocated for emolument, up 8.9% Fiscal deficit target: 3% of GDP in 2017, down 0.1% from 2016 Revenue collection estimate: Up 3% to RM219.7 billion RM46 billion for development expenditure, down 11.53%. RM214.8 billion for operating expenditure, down 0.2%. In contrast: RM267.2 billion was announced for Budget 2016.

Total budget allocation: RM260.8 billion, excluding RM2 billion contingency fund. Stay tuned to Malaysiakini as we bring you salient points of Budget 2017 live. He has described the fiscal plan as a commitment budget as opposed to one that seeks short-term political gains amid talks of an election budget and speculation that a snap election is around the corner.įor this year, the budget speech theme is 'Accelerating Growth, Ensuring Fiscal Prudence, Enhancing Well-being of the Rakyat'.Įarlier, Najib, dressed in a pink baju Melayu, attended a prayer session at the Finance Ministry before heading to the Parliament building.

BUDGET 2017 Prime Minister Najib Abdul Razak has tabled Budget 2017 and is currently reading out his speech.

A taxi driver 2017 budget