Between 2011-2020 all our transformation programmes will fall under one single plan, the National Transformation Policy.
Last year our FDI growth was the strongest in asia and in the 1st 6 mnths of this year have already reached 21.2 bil.
In 2012, private investment is forecast to climb 15.9% supported by foreign n domestic investment.
Gdp in the first 6 mnths of 2011 was 4.4% driven by strong domestic consumption.
In 2011, the economy is forecast to grow by 5-5.5%.
Private and public investment are forecast to increase by 15.9% and 7%, supported by foreign investment, the ETP and 10MP.
In 2012, the service sector is expected to grow 6.5%, the construction sector 7% and GDP is forecast to be between 5 and 6%.
Budget 2012 allocates RM232.8bn for Government plans, including RM181.6bn for management and RM51.2 billion for development.
RM29.8bn has been allocated for investment in infrastructure, industrial and rural development.
RM13.6bn has been allocated for the social sector, including education and training, welfare, housing and community development
Total revenue for 2012 is forecast to increase 1.9% to RM186.9bn and the deficit to decrease to 4.7% of GDP from 5.4% in 2011.
The theme for Budget 2012 is “National Transformation Policy: Welfare for the Rakyat, Well-Being of the Nation”
We will focus on accelerating investment and further liberalise 17 services sub-sectors, in places enabling 100% foreign equity.
RP2 will be implemented in 2012, and it will be allocated RM98.4bn, to be split evenly between 2012 & 2013.
RP2 main projects will include the East Coast Highway from Jabor to T’ganu and road upgrades from Kota Marudu to Ranau.
RM18bn of the RM20bn PPP Facilitation Fund will be used for high impact projects, with RM2 billion for Bumiputera entrepreneurs.
In 2012, the Government will allocate RM978 million to accelerate the development in five regional corridors.
The Treasury Management Centre will be established and offer incentives to develop M’sia as a competitive financial centre.
We will develop the Kuala Lumpur International Financial District, with incentives including income tax exemptions for firms.
To encourage sukuk issuance, tax deductions on sukuk wakala will be given for 3 years from 2012.
Income tax exemptions for non-ringgit sukuk issuance and transactions will be extended for another 3 years.
To promote the development of Exchange Traded Funds products I-VCAP will provide RM200mln for Shariah-compliant ETFs.
FELDA GVH will be listed on Bursa Malaysia by mid-2012 to raise funds for the company to become a global conglomerate.
FELDA settlers are expected to receive a windfall, and the amount will be announced before listing
A RM2bn shariah-compliant SME Financing Fund managed by selected Islamic banks will be established in 2012.
A RM100mln SME Revitalisation Fund offering loans up to a maximum of RM1mln for entrepreneurs will be available from Jan 2012.
Full exemption of import duty and excise duty on hybrid cars and electric cars will continue to be given until 2013.
To promote tourism the Langkawi Five Year Tourism Development Master Plan will be launched with an allocation of RM420mln.
The Malaysia Healthcare Travel Council will be privatised to promote and develop Malaysia as a healthcare destination
The real property gains tax will be reviewed so it doesn’t jeopardise the ability of low- and middle-income groups to buy homes.
Budget focuses on developing human capital, creativity and innovation and 2012 will be the National Innovation Movement year.
The Govt has allocated RM100mln promote innovation including the 1Malaysia Award (C1PTA) for innovative student inventions.
To enable SMEs to commercialise research products a Commercialisation Innovation Fund totalling RM500mln will be established.
RM50.2bn will be allocated to the education sector so that it can continue to develop talented, creative and innovative people.
RM1bn will be provided through a special fund for the construction, improvement and maintenance of schools.
We will abolish payments for primary and secondary education, making these free for the first time in our history.
Private schools registered with the Ministry of Education will be given incentives including an Investment Tax Allowance.
The Government will expedite tax exemption approvals for educational institutions and all places of worship.
To encourage private sector human capital development incentives including a double deduction on scholarships will be offered.
Budget introduces a Rural Transformation Programme, so that rural areas can attract private investment and create employment.
RM5bn will be given to develop rural infrastructure, including RM1.8bn to the Rural Road Programme & Village-Link Road Project.
The Government will expand the programme to supply clean water to the rural community in Sabah by RM50mln
The Government will provide RM400mln to upgrade the water supply infrastructure in selected FELDA areas
To provide greater access to bank services for the rural population, Bank Simpanan Nasional will appoint agents in rural areas.
RM90mln will be provided to the Orang Asli for basic necessities, including the expansion of the clean water supply project.
For the Orang Asli affected by the landslides at Sungai Ruil, RM20 mln is provided for their relocation to new homes
Budget will transform the civil service to be dynamic and responsive, introducing changes to remuneration and recruitment.
600,000 Government pensioners will benefit from an additional annual pension increment of 2%
The Government will extend the compulsory retirement age from 58 to 60 years old to optimise civil servants’ contribution.
Civil servants will be offered tuition fee assistance for part-time studies, including 5,000 masters & 500 doctoral scholarships
A special programme will be introduced for 175,000 army personnel who are not eligible for pensions
RM3,000 will be given to ex-members of the special constable and auxiliary police as well as widows and widowers
The Government is mindful of the plight of the rakyat due to rising food prices and will take measures to address this
The National Agro-Food Policy 2011-2020 will be launched and RM1.1bn allocated for the development of the agriculture sector.
In the spirit of “People First,” all subsidies, incentives and assistance totalling RM33.2bn will be continued.”
500,000 will benefit from KAR1SMA, which provides assistance to poor senior citizens and children and disabled people.
The My First Home Scheme will be expanded to increase the limit of house prices from a maximum of RM220,000 to RM400,000.
The Government will identify areas in the vicinity of MRT, LRT and other public transport to be developed by PR1MA.
The Government will continue to implement the Program Perumahan Rakyat by building 75,000 units of affordable houses.
The Government will establish the Special Housing Fund for Fishermen to build and refurbish houses.
Healthcare will be allocated RM15bn operating expenditure and RM1.8bn development expenditure.
Hospitals will be upgraded and constructed as well 81 rural health clinics upgraded and 50 new 1Malaysia clinics launched.
Hospital Kuala Lumpur - the oldest in Malaysia - will be upgraded to be the country’s premier hospital.
SARA 1Malaysia will benefit 100,000 households with income below RM3,000 per month.
TERAJU will coordinate and drive the transformation and strengthen Bumiputera’s participation in business.
To assist taxi owners facing increased operating costs, measures will be introduced including tax exemptions on taxi purchases.
The National Legal Aid Foundation will ensure that every individual who is charged in court will be given free legal aid.
To assist the homeless the Government established a social assistance centre known as Anjung Singgah
A training allocation of RM10mln will be provided for women to develop leadership and managerial skills.
To prevent cervical cancer, the Government will provide free Human Papilloma Virus immunisation nationwide
The Government will establish MyCreative Venture Capital with an initial fund of RM200mln
RM200mln will be allocated to train youths who have left school through the SAY 1Malaysia programme.
RM15mln will be allocated to build 150 futsal courts to achieve the “One Court for One Mukim” target.
Senior citizens aged 60 years & above will be exempted from outpatient registration fees in Govt hospitals & health clinics.
To ensure the welfare of retirees measures including a tax relief on Private Retirement Schemes contributions are introduced.
A Flood Mitigation Plan will be implemented in Perlis, Perak and Johor to help 4 million rakyat residing in flood-prone areas
One-off assistance of RM500 to households with a monthly income of RM3,000 and below will be provided.
Book voucher worth RM200 will be given to Malaysian students in all private and public institutions of higher learning.
Civil servants will be given an additional bonus of half-month salary and pensioners RM500
Budget will continue the tradition of placing the welfare of the rakyat and the well-being of the nation as our top priority.
The strong support of the rakyat is mandatory for us to become developed and prosper as a nation
1 comment :
High expenses budget.
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