BUDGET 2017: Highlights


Najib in Parliament for Budget 2017
Najib in Parliament for Budget 2017


  • Prime Minister Najib Abdul Razak asks that the people to ignore talk that the Goods and Services Tax (GST) will be increased from its current 6%. “This is not true at all,” he said in Parliament today. He also said, the government has collected RM30 billion from GST as of October 2016.
  • The Bantuan Rakyat 1Malaysia (BR1M) amount will be increased from RM1050 to RM1200 for households earning under RM3,000.
  • Prime Minister Najib Abdul Razak continues to try to woo the bottom-40 percent with several housing projects, including giving a facelift and upgrade to thousands of public housing projects (PPRs) and rundown flats with a budget of RM300 million.
  • “My Beautiful New Home” programme for the bottom-40. This project will see 5,000 homes built and sold at RM40,000 to RM50,000 each, with the government paying RM20,000 and the rest to be paid in installments by the individual. With a budget of RM200 million, this programme is on condition that the house is built on the individuals own land.
  • Fixed line broadband providers have agreed to increase, by double, internet speeds for the same price, announced Prime Minister Najib Abdul Razak. He also said, over the next two years, internet speeds will double further, but the price reduced by up to 50%.
  • To encourage PTPTN borrowers to repay the loan, discounts of up to 15% off the outstanding loan amount will be given, Prime Minister Najib Abdul Razak said. He said, 15% discount will be given to those who repay the full amount, 10% to those who pay at least 50% of the outstanding amount in one payment, and 10% discount for those who sign up for monthly deductions from salary.


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