#Live #updates: #Budget 2015 5.45pm Another 20 Kedai Rakyat 1Malaysia (KR1M) will be set up in the Peninsular. A price watch team comprising consumer associations will be set up. 5.40pm Starting January 2015, RM100 each will be given to all primary and secondary school students with an allocation of RM540 million which will benefit 5.4 million students. Government will continue to implement the 1Malaysia Book Voucher Programme with the assistance of RM250 per student. A sum of RM325 million will be allocated for this programme and is expected to benefit about 1.3 million students. 5.38pm RM103 million allocated towards efforts to transform Malaysian into a sporting nation which also involves the implementation of a Sporting Nation blueprint. Among the measures to empower sports in Malaysia: 1. screen for talents among students through the Malaysian Talent Identification programme beginning from primary school. 2. improve quality of high-performance sports; soccer, cycling, badminton, sepak takraw, swimming and athletics. 3. foster FitMalaysia Programme with focus on physical fitness. 4. Celebrate National Sports Day on the first saturday in November every year. 5.35pm With regards to home ownership for youths, the Government announces the Youth Housing Scheme which is a smart partnership between the Government, Bank Simpanan Nasional, Employees Provident Fund and Cagamas. The scheme offers a funding limit for a first home not exceeding RM500,000 for married youth aged between 25 and 40 years with household income not exceeding RM10,000. The maximum loan period is 35 years. Under the scheme, the Government will provide monthly financial assistance of RM200 to borrowers for the first two years to reduce the burden of monthly installments. The Government will also give a 50% stamp duty exemption on the instrument of transfer agreements and loan agreements. The Government will also provide a 10% loan guarantee to enable borrowers to obtain full financing including cost of insurance. Borrowers can also withdraw from EPF Account 2 to top up their monthly installment and other related costs. This opportunity is on a ‘first come first served basis’ for 20,000 units only. 5.32pm A sum of RM30 million will be allocated through Amanah Ikhtiar Malaysia (AIM) to inculcate the spirit of entrepreneurship among Indian women. Furthermore, for civil servants, the Government will improve the Child Care Leave eligibility by revising the conditions so that the eligibility is not tied to the duration of maternity leave, effective from 1 January 2015. The leave is limited to children until they reach one year and is extended to female personnel with step children, legally adopted children, foster children and children with disabilities. 5.30pm The Ministry of Women, Family and Community Development is allocated RM2.26 billion for development and operating expenditure to enhance the contribution of women in national development. In 2015, the Government plans to train 125 potential women directors to fill the position as members of the board of Government-linked companies and the private sector. Improving opportunities for women to return to the job market through the 1Malaysia Support for Housewife programme which emphasises skills training and incentives for housewives. Talent Corp will set up the Women Career Comeback Programme for professional women returning to the job market based on professional qualifications. 5.23pm RM660 million to enhance security along Sabah’s coastline under Esszone and Esscom. Two battalions comprising a battalion PGA PDRM and an Army battalion with 1,280 new personnel have been approved. Two new camps will also be built in Esszone, namely Kem Batalion 20 PGA in Beluran and Kem ATM in Felda Sahabat, Lahad Datu, Sabah. Military and security operation equipment will be further improved, such as procurement of high-capability monitoring radar. The Government will also use a modified oil rig and an auxillary vessel as Sea Basing in the Esszone waters, with an allocation of RM230 million through Petronas CSR programme. To introduce the hill paddy subsidy, with an allocation of RM70 million in order to strengthen the food supply chain in Sabah and Sarawak. 5.22pm Government plans to begin construction of the 1,663km Pan-Borneo Highway comprising 936km in Sarawak and 727km in Sabah at a total construction cost of RM27 billion. 5.20pm EKUINAS will be allocated RM600 million to increase bumiputera ownership in private companies and GLCs. To date, EKUINAS has cumulative investments of RM2.3 billion in various sectors. Lembaga Tabung Haji will allocate RM200 million for the establishment of the shariah-compliant Restricted Investment Account (RIA) under Bank Islam. The purpose of this account is to provide financing and credit between RM50,000 and RM1 million from January 2015. Amanah Ikhtiar Malaysia (AIM) will use internal sources of RM1.8 billion for financing to benefit 346,000 Sahabat AIM. RM2 billion is allocated to MARA for sponsoring education to eligible Bumiputera students. RM72 million will be used by Yayasan Peneraju Pendidikan Bumiputera to implement three programmes in the form of scholarship, training and financial assistance to benefit 5,000 people. Establishing a Professional Accounting Centre in Universiti Teknologi MARA in collaboration with Malaysian Institute of Accountants.
Posted on: Fri, 10 Oct 2014 09:47:51 +0000
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