This year alone, the government has allocated RM58 billion for subsidies.
news 8 Things You Need To Know About Targeted Subsidies From The Government Like BUDI MADANI Cover image via Hazreen Mohamad / New Straits Times & New Straits Times Follow us on Instagram, TikTok, and WhatsApp for the latest stories and breaking news.
This approach differs from the blanket subsidies given to people from all walks of life, regardless of need. By providing targeted subsidies, the government can ensure that assistance reaches the deserving target groups, such as low-income and vulnerable groups. The amount Malaysia spends on subsidies is among the highest in the world. In 2023, the government spent more than RM80 billion. And this year alone, the government has allocated RM58 billion for subsidies.
For example, the targeted electricity subsidies have generated savings of RM4 billion. As for the targeted diesel subsidies, it is also expected to save the government around RM4 billion a year. 5. Why do citizens have to bear the higher price for diesel when we already pay taxes? Image via Bernama / The Vibes It bears repeating that diesel subsidy isn't going to be completely abolished. Although diesel will soon be retailed at market price, the subsidy will be directly channelled to the majority of individual diesel-vehicle owners and many businesses.
6. Does this mean that subsidies for those in need will be withdrawn? Image via Malay Mail Targeted subsidies does not mean subsidies will be withdrawn. The government simply introduced a system to ensure that subsidies really reach the target groups of those in need, such as B40 and M40.The government is very concerned about the cost of living challenges faced by the rakyat and is committed to ensuring their wellbeing and survival.
At the same time, enforcement measures will also be strengthened to ensure that traders do not arbitrarily take advantage of raising the prices of goods and services. Recipients under both BUDI Agri-Komoditi and BUDI Individu categories will receive RM200 per month from the MADANI government.2. Applicant owns diesel-powered personal vehicles based on JPJ's database that are not luxury vehicles under 10 years of age4. Applicant's annual individual or joint income must be RM100,000 and below
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