Bangkok (VNA)꧂ - Approximately 4 million elderly persons in Thailand will receive 10,000 THB (287 USD) each from the Government on January 27, Deputy Prime Minister and Finance Minister Pichai Chunhavajira announced on January 14.
Pichai said that the move is expected to boost the GDP by 0.07-0.1% this year.
This handout, aimed at individuals aged 60 and above, marks the second phase of the economic stimulus programme, which was adapted from the initial digital wallet scheme.
Fulfilling a pre-election promise, the Pheu Thai-led government initially planned to distribute 10,000 THB to 50 million Thai citizens aged 16 and older via a digital wallet. However, due to budget constraints, the number of recipients was later reduced to 45 million.
After failing to develop the digital wallet system in time, the government decided to distribute 10,000 THB to 14.5 million state welfare cardholders and people with disabilities at the end of September last year as part of the first phase.
The second phase will involve disbursing cash to the elderly, while the third and final phase is expected to be rolled out via the digital wallet in the second quarter of this year.
Pichai clarified that eligible elderly individuals must have registered to receive the money via the Thang Rath app in September last year and should have turned 60 by September 14, 2024.
They also should not have earned more than 840,000 THB in the 2023 tax year, not have more than 500,000 in bank savings as of June 30, 2024, not reside in welfare shelters operated by the Social Development and Human Security Ministry as of November 30, 2024, and not be in prison as of November 30, 2024 or among the recipients in the first phase./.
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