July 19, 2024
BANGKOK – After a 10-hour debate on Wednesday, the House of Representatives voted 297 to 164 to approve the principle of the Additional Budget Expenditure Act for fiscal year 2024, which allocates 122 billion baht to fund the government’s handout under digital wallet scheme.
Of the 461 attending lawmakers, 297 voted for the bill in the first reading and 164 voted against. There were no abstentions.
The lower house then set up a 32-member committee to deliberate the act in two days, after which it will return to the Parliament for second and final reading on July 31.
Before the vote, Prime Minister Srettha Thavisin told the House that the additional 122 billion baht will be used to finance the 10,000-baht digital handout scheme to boost people’s quality of life and create job opportunities.
He said the government could not wait until the fiscal 2025 budget bill for the money to be allocated.
Srettha said 10 billion baht of the additional funds would come from taxes and other government revenue, while 112 billion baht would come from borrowing.
Srettha assured the House that the 122 billion baht for the digital wallet scheme would flow into the private sector and lead to the procurement of goods and services, which would in turn let the money circulate in the economy.
The additional funds would be added to the 3.48-trillion-baht national budget that has already been approved for fiscal 2024, raising the total budget to 3.602 trillion baht.
With the increased budget, the government will spend 800 billion baht or 22.4% of the total budget on investment, Srettha added.
Under the digital wallet scheme, all Thais above 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.