Prime Minister Seri Najib Razak unveiled Budget 2017 last Friday.
But how has it affected you?
Does it make much difference to the average rakyat?
Lets take a look.
BR1M has been increased
It is clear that Budget 2017 is a caring budget as it took care of the low B40 group or bottom low income group with a household income of less than RM3,000 a month. Najib announced that BR1M or Bantuan Rakyat 1Malaysia for this group has been increased to RM900 from RM800.
RM900 might not be much but it can help ease the rakyat’s cost of living where they can shop for supplies such as buy rice and flour. This is an economic activity which will spur domestic spending and when domestic spending is active, the economy is also active which will help the rakyat to earn an income and make a living.
BR1M for bachelors have also been increased
BR1M for bachelors earning less than RM2,000 a month has also been increased to RM450 a month from RM400. This will help the bachelor to make a living enabling him or her to go to work and earn an income.
This is a healthy development because the young people are our future and when they are able to go to work, they can help the country’s economy.
Lets say a bachelor works for a manufacturing company, with the BR1M he will be able to pay for his fuel for his motorcycle. When he is able to come to work, the company is able to produce products which is then exported. Products which are exported will earn the company an income and some of the money will be paid back to the bachelor.
After getting his salary, the young Malaysian will then spend money again to buy food and groceries or go out with his friends. This is again an economic activity which will help support our economy. In this way, Malaysia’s economy will be strong and we as a country will be able to withstand against the weak global economy.
Can use Unifi much faster and pay half the original price
Under Budget 2017, broadband speed will be two Times faster while the price will be maintained. Telekom Malaysia chief executive officer Tan Sri Zamzamzairani Mohd Isa told New Straits Times on October 24, what this means is that, if previously you pay your UniFi bill for RM150 a month, your Internet speed will be double but at the very same price of RM150.
This is good news because the Internet is a source of knowledge and young people especially can learn a lot of things. This knowledge will help them to upgrade themselves such as speak better English, more knowledgeable and help them to improve themselves from Sijil Pelajaran Malaysia to diploma, to degree, master’s degree and PhD.
Once Malaysians have better knowledge, they will have higher qualifications and with higher qualifications, they will earn higher pay and this will result in a better economy.
Taxi drivers can now have a better income
Malaysia’s taxi drivers have been struggling lately due to Uber and Grabcar.
The government is concerned with their plight and has offered them a RM5,000 grant for them to buy new cars. Proton has also helped by offering taxi drivers a rebate of RM4,000 to buy its Iriz cars.
DRB-HICOM Berhad chief executive officer Datuk Syed Faisal Albar told Berita Harian on October 24 that taxi drivers are a part of the country’s economic growth. So this is a great move by the government as it will help taxi drivers to have a better life.
This will also help to boost tourism because with a better car, they will be able to transport tourists to some of the tourists locations. Once the tourists are happy, they will come to Malaysia again and spend their money in our economy by spending on hotels, handbags, transport, buy food and so many others. When the tourism sector is healthy, our economy will be good and our people will be happy too.
Nik Haikal Nik Ibrahim is an independent analyst and Malaysian Access reader. Article written is strictly his personal view. Malaysian Access does not necessarily endorse the opinions given by any third party content provider.