Publication date: October 20, 2024 05:22
Eligible people recently rushed to GSB’s branch in Sanam Chaiket, Chachoengsao province, to withdraw cash given to them under the government-backed cash transfer program. (Photo provided)
Government allows people without smartphones to register for 10,000 baht handout Deputy Finance Minister Julapun Amolumvivat said the system will be introduced at state-run banks next month.
He said on Saturday that the first phase of the cash transfer scheme for 14.5 million vulnerable people had created a rapid flow of funds while stimulating the economy across the country.
He said the government plans to start registration through state-owned banks in November for vulnerable people who do not have smartphones.
“A clear conclusion will be reached after the first meeting of the Economic Stimulus Policy Committee, chaired by the Prime Minister. The meeting will be held by the end of this month at the earliest,” he said.
He said the state-owned bank’s registration system is fully ready and will be able to serve people in November.
He said the government would proceed with the second phase of the plan for the same amount of 10,000 baht.
But the ministry has not yet decided when the second phase will start, so it cannot be confirmed whether it will be done in one lump sum or in installments, he said.
“We continue to pursue our goal of developing an open-loop payment system that enables spending via digital wallets,” he said.
Asked if the government would reintroduce the “Kong La Kruen” co-payment system, he said the government had accepted all proposals for consideration.
He said if the project helps people, the government may adopt it to accelerate spending.
Nath Vonpanich, chairman of the Retailers Association of Thailand, has suggested that Prime Minister Pethunthan Shinawatra reinstate the Ministry of Revenue’s Shop Dee Me Kuen program at the end of this year. He said he did. It is considered the high season, which greatly stimulates the spending mood.
“This opens the door to entrepreneurs and small and medium-sized enterprises who are registered for VAT but have not yet started using it, or who are in the process of applying for approval to issue tax invoices in electronic format as required by the Ministry of Revenue. There will be more opportunities to sell products to homes and small businesses.
“The measure proposes a tax cut of up to 50,000 baht for shoppers. The shopping stimulus campaign could generate more than 100 billion baht in circulation for the economy,” he said.
