BANGKOK: The Finance Ministry is consulting the council of state regarding the legality of issuing a borrowing Bill to fund the 500-billion baht digital wallet scheme, Prime Minister and Finance Minister Srettha Thavisin says.
Srettha said he has tasked Deputy Finance Minister Julapun Amornvivat to write to the office of the council of state to clarify the legality of drafting the loan Act to fund the digital wallet scheme, which aims to provide every Thai, aged 16 and above, with 10,000 baht through a digital wallet to boost the economy.
The scheme, however, excludes people with a monthly income of 70,000 baht or with savings in their bank accounts exceeding 500,000 baht.
Julapun said that the bill has yet to be drafted, adding that when this is done, the ministry will take into account the latest statistics on the Thai economy submitted by the national economic and social development council.
Julapun believes that once the council of state gives the green light, it will not take long to pass the bill.
The Cabinet meeting on Monday also approved the Easy E-Receipt programme, formerly known as E-Refund, which offers tax rebates of up to 50,000 baht to Thais not eligible for the digital handout.
The ministry estimated that 1.4 million people will join the programme, spending some 70 billion baht and helping stimulate GDP by about 0.18%. The programme will cost the government 10.85 billion baht in lost revenue from tax. — The Nation/ANN