PRIME Minister Anwar Ibrahim today tabled his unity federal government’s Budget 2025 in the Dewan Rakyat, assigning a record RM421 billion for next year’s federal budget, a 3.3% boost from the amount invested this year.
Anwar, who likewise acts as financing minister, stated Budget 2025 objectives to more increase financial development while making sure justice for individuals. It is the 3rd budget plan from his federal government and the last one in the 12th Malaysia Plan (2021-2025).
Here are the crucial takeaways from the spending plan:
RON95 aid rationalisation in mid-2025
The federal government prepares to present its long-awaited aid rationalisation for RON95 gas in mid-2025. Anwar stated 85% of Malaysians will still get aids, while the most affluent and immigrants will not.
“To prevent confusion, I wish to stress that aids will continue for 85% of the rakyat, costing the federal government an approximated RM12 billion. RM8 billion can be conserved by withdrawing aids for the ultra-rich and immigrants,” Anwar stated. He stated the cost savings would be directed towards education, health, and well-being enhancements.
Base pay increase to RM1,700
Beginning February 1, the nationwide base pay will increase from RM1,500 to RM1,700. Anwar stated significant financial restructuring needs to lead to enhanced earnings for individuals.
RM100,000 Perodua electrical automobile
Perodua is set to launch an electrical car costing less than RM100,000 next year. Anwar stated the RM2,400 reward for electrical motorcycle purchases will continue next year. Furthermore, the net energy metering program for photovoltaic panel setup will be reached 30th June 2024.
RM600 million transformation for renowned structures
The federal government will assign RM600 million to bring back and update the Sultan Abdul Samad and Carcosa Seri Negara structures. This consists of building a multi-storey bridge linking Taman Botani Perdana and Carcosa Seri Negara.
An additonal RM110 million is reserved to increase eco-tourism locations such as Endau Rompin National Park, Pulau Redang, and Pantai Tusan.
Other highlights
* The the greatest recipient of the spending plan, the Education Ministry is designated RM64.1 billion
* The Health Ministry continues to be the 2nd greatest recipient of the spending plan, where an overall of RM45.3 billion were designated.
* The Home Ministry gets RM19.5 billion in allotment.
* RM13 billion for Rahmah money help efforts, a boost from RM10 billion this year.
* Sabah and Sarawak to get RM6.7 billion and RM5.9 billion in advancement funds, respectively.
* Special grants for Sabah and Sarawak doubled to RM600 million in 2025.
* RM2.6 billion designated to Felda, Felcra and Risda.
* RM2 billion for Islamic affairs.
* To improve tourist promos and activities for Visit Malaysia 2026, nearly RM550 million is designated.
* RM230 million for nationwide sports advancement, and RM15 million for Harimau Malaya and the Under-18 and Under-13 groups.
* Government to come up with brand-new law enabling home arrest– October 18, 2024.
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