#Bajet2018: PROSPERING AN INCLUSIVE ECONOMY, BALANCING BETWEEN WORLDLY AND HEREAFTER, FOR THE WELLBEING OF RAKYAT, TOWARDS THE TN50 ASPIRATION

Total Budget Allocation

Highlights

  • Highest allocation to TEKUN amounting to RM500 million
  • RM6.5 billion to assist farmers, fishermen, smallholders and rubber tappers
  • 90 days maternity leave for the private sector, an increase from 60 days previously
  • Special payment of RM1,500 to all civil servants and RM750 to government retirees
  • Individual income tax rates reduction of 2% for income tax band between RM20,000 to RM70,000
  • RM3.9 billion billion for goods and transport subsidies including cooking gas, flour, cooking oil, electricity and toll
  • Amanah Dana Anak Malaysia 2050 (ADAM50): RM200 of Initial Savings Fund for every Malaysian baby born from 1 January 2018 to 2022 via PNB’s Unit Trust Scheme
  • Scholarships worth RM2.2 billion provided by Public Service Department, Ministry of Higher Education and Ministry of Health

Read the full Budget 2018 speech here 

#Bajet2017: Ensuring Unity and Economic Growth, Inclusive Prudent Spending, Wellbeing of the Rakyat

Total Budget Allocation

Highlights

  • Bantuan Rakyat 1Malaysia increased to as high as RM1,200 for eligible recipients
  • RM4.6 bil is allocated to all states to maintain state roads
  • RM25 bil to enhance health level of the rakyat and quality of healthcare
  • Fixed line broadband services at a higher speed for the same price
  • Scholarships will continue to be awarded with an allocation of RM4.3 bil
  • Implementation of East Coast Rail Line project with an estimated cost of RM55 bil

Read the full Budget 2017 speech here 

#Bajet2016 : Prospering the Rakyat

Total Budget Allocation

Highlights

  • Minimum wage raised to RM920-RM1,000, depending on region
  • Bantuan Rakyat 1Malaysia increased to as high as RM1,050 for eligible recipients
  • Increase in tax reliefs for individual taxpayers in various categories
  • The construction of MRT II project from Sungai Buloh – Serdang – Putrajaya, spanning 52 kilometres, will begin in Q2 2016 and completed in 2022
  • LRT3 project from Bandar Utama, Damansara – Johan Setia, Klang, spanning 36 kilometres will begin construction in 2016 and completed in 2020

Read the full Budget 2016 speech here 

Note: Budget Recalibration was announced on 28th January 2016. Read the special address here

#Bajet2015 : People’s Economy

Total Budget Allocation

Highlights

  • Upgrading of the East Coast railway line along Gemas – Mentakab, Jerantut – Sungai Yu and Gua Musang – Tumpat
  • Individual income tax rates reduced by 1-3%, resulting in tax saving of at least 5.3% for existing taxpayers. With this measure, at least 300,000 individual taxpayers will no longer pay income tax.
  • Cooperative income tax rate reduced by 1-2%
  • EKUINAS allocated RM600 million to increase Bumiputera ownership in private companies and GLCs
  • RM2 billion is allocated to MARA for sponsoring education to eligible Bumiputera students
  • Allocation of RM262 million to finance the cost of transportation and the enforcement of price control on essential goods especially in Sabah and Sarawak

Read full text of the Budget 2015 speech here

Note: A special address on Current Developments and Government’s Financial Position 2015 was made on 20th January 2015. Read the special address here 

#Bajet2014 : Strengthening Economic Resilience, Accelerating Transformation and Fulfilling Promises

Total Budget Allocation

Highlights

  • Schooling assistance of RM100 each to all primary and secondary school students, benefitting about 5.4 million students
  • Continuation of 1Malaysia Book Voucher Programme valued at RM250 each, benefitting 1.3 million students in pre-university and institutions of higher learning
  • Construction of double-tracking projects from Ipoh to Padang Besar, and later from Gemas to Johor Bahru as well as the upgrading of rail tracks across the country
  • RM130 million to subsidise rural air transport, especially for rural population in Sabah and Sarawak
  • RM980 million allocation for the refurbishment and upgrading of 437 kilometres of rural road networks nationwide
  • RM50 million for land surveying and customary land ownership verification

Read the full Budget 2014 speech here 

#Bajet2013 : Prospering the Nation, Enhancing Wellbeing of the Rakyat: A Promise Fulfilled

Total Budget Allocation

Highlights

  • RM2.4 billion to provide subsidies and incentives to assist farmers
  • RM41 million allocation to the 1Azam programme for the benefit of its 6,730 participants
  • RM9 billion or 43% of the total infrastructure cost of the MRT project has been allocated to Bumiputera companies
  • RM1 billion to the Bumiputera Financing Fund by the SME Bank to assist Bumiputera SMEs to expand and increase their equity holdings in the economic sector
  • RM1 billion allocation to refurbish school buildings, maintenance, purchase of school equipment and construction of additional blocks
  • RM3.7 billion to train students in technical and vocational fields
  • RM4.5 billion for development projects to reduce the disparity between urban and rural areas

Read full text of the Budget 2013 speech here 

#Bajet2012 : National Transformation Policy: Welfare for the Rakyat, Well-being of the Nation

Total Budget Allocation

Highlights

  • RM1billion allocated for the construction, improvement and maintenance of schools
  • RM1.8 billion for the Rural Road Programme and Village-Link Road Project to build a road network of 2,749 kilometres, benefiting 1.76 million rural populations
  • An annual pension increment of 2% without having to wait for any review of the remuneration system or salary adjustments
  • The compulsory retirement age extended from 58 to 60 years old to optimise civil servants’ contribution
  • RM1.2 billion for the 1Malaysia Rakyat’s Welfare programme, which includes assistance to poor senior citizens, poor children and disabled people to ease their cost of living
  • RM300 million for the Special Housing Fund for Fishermen
  • RM200 million for the development of Bumiputera entrepreneurs and contractors
  • RM2.1 billion for micro financing to entrepreneurs, particularly for women.

Read the Budget 2012 full speech here 

#Bajet2011 : Transformation Towards a Developed and High-income Nation

Total Budget Allocation

Highlights

  • Allocation of RM1.2 billion for various welfare and community programmes
  • Introduction of Skim Rumah Pertamaku, which will provide a guarantee on down payment of 10% for houses below RM220,000
  • RM2.1 billion to build and upgrade rural roads in Sabah and Sarawak
  • RM300 million to implement the housing assistance programme for the poor and hardcore poor, involving the construction and repair of 12,000 houses nationwide

Read the Budget 2011 speech here 

#Bajet2010 : 1Malaysia, Together We Prosper

Total Budget Allocation

Highlights

  • RM538 million for the implementation of various SME development programmes
  • RM1.5 billion to promote the supply and utilisation of green technology
  • RM30 billion allocation for primary and secondary education, benefitting 5.5 million students nationwide
  • Allow 100% foreign equity participation in corporate finance and financial planning companies
  • Maximum individual income tax rate reduced from 27% to 26%
  • Maximum tax rate for cooperatives reduced to 26%
  • Personal relief for taxpayers increased from RM8,000 to RM9,000
  • RM14.8 billion to manage, build and upgrade hospitals and clinics

Read the full text of the Budget 2010 speech here