10,000-baht digital money to be handed out to all at same time: Govt
‘Vulnerable’ group won’t jump queue under digital wallet scheme despite report, Finance Ministry clarifies
The government has denied a report that vulnerable people will be the first group to receive a 10,000-baht handout under the digital wallet programme to boost domestic spending.
Under the scheme, all Thais over the age of 16 years with a monthly income of less than 70,000 baht and bank deposits lower than 500,000 baht will receive 10,000 baht via a digital wallet to spend at local businesses.
Deputy Finance Minister Paopoom Rojanasakul said on Wednesday that a report that the registration for people in vulnerable groups to receive the money will start on September 30, before any other groups, is not true.
He added that so far the ministry has set the registration date for participating businesses in the third quarter, while disbursement of the money will start in the fourth quarter.
“There is no change in the plan to disburse the whole amount of 10,000 baht to some 50 million eligible Thais at the same time,” he said. “There will be no particular groups that will receive the money before others.”
The plan is to have a large sum of cash injected into the economy at the same time to create short-term stimulation, he added.
Paopoom said part of the money to fund the scheme will come from the revised midyear budget for fiscal 2024, which authorises additional expenditure of 122 billion baht, while another part will come from the Bank for Agriculture and Agricultural Cooperatives, as part of its obligation to help fund the government’s campaigns.
“Every aspect of the scheme is progressing on track based on the original timeline, including the development of the super app, which will be ready for merchant and public registrations in the third and fourth quarters respectively,” he said.
