The next government is likely to cancel the digital wallet because many problems are expect to cause big trouble to the government and related administration.
The Government House source said the next government is likely to cancel the project because of many risks to the government such as the high rate of the public debt. The project may cause high inflation and may not spur the economy as the government’s expectation. The administration and high-ranking officials may be sue and risk being jaile.
There was a report that the meeting among heads of coalition parties on Friday night (August 16) were talk that the project would be cancel. The meeting was urgently organized after the constitution court order the dismissal of former Prime Minister Srettha Thavisin. However, after the cabinet meeting last Tuesday, many related ministries avoided specifying whether the project will be canceled, they only said waiting for the next government.
Think-tank agencies suggested to allocate the budget to alleviate less income earners
Think-tank agencies suggested the government allocate the budget to alleviate the grassroots economy instead.
They suggested that the 122 billion baht budget in fiscal 2024 which was prepare for the digital wallet project should be transferre to alleviate less income earners instead. They said the budget should be diversified into provincial investment projects and accelerate investment in small projects in a bid to stimulate the grassroots economy.
A source from the Government House revealed that “If the government does not proceed with the digital wallet project, there will be a review of the additional budget expenditure for the year. 2024 in the portion that has been approve by the Parliament, the budget 122 billion baht.”
It will be propose that this budget be used to invest in grassroots economic projects in the same way as projects previously undertake during the post-COVID – 19 economic recovery period.
By using the budget to invest in projects of this proposal, it will help create circulation in the economic system of approximately 1.5 times the budget that has been investe, which will help stimulate the economy at the community and grassroots level, especially the money will reach the small contractor level and create employment at the local and community level.
Construction projects will also help support the purchase of construction materials. Pickup-trucks related to the construction businesses will help the economy to gradually recover. They said that giving money to people to spend will stimulate the economy less than investment projects.
In the past, economic agencies have estimated that the digital wallet project will have a budget of 450 billion baht. The project was project to stimulate the economy approximately only 0.9% of GDP.
The new government can proceed the project
However, the government can proceed with the project because the process has been approve, according to the Budget Bureau.
The Budget Bureau’s director Chaloempol Pensut respond to the question that the project can be continue, he said the public should wait for a clear policy first.
He said the budget preparation for the hand out 10,000 baht scheme has been conclude.
The project budget is under consideration by parliament including the additional budget for the fiscal budget 2024 and 2025.
Mr Chalermpol said that the budget was prepare under the central budget’s list of expenses for the economic stimulus and strengthening of the economy.
“If there is a need to be change, it must be in accordance with the purpose of budget spending and in accordance with the legal framework.”
For budget preparation to implement the digital wallet in the past government of former PM Srettha. The cabinet approved the source of funds from the annual budget 2024-2025.
Total budget of 450 billion baht, including annual budget 2024 with 165 billion baht, divided into additional budget 122 billion baht and from the budget management total 43 billion baht.
The rest will be from a fiscal budget 2025 with 285 billion baht, divided into a central budget of 152.70 billion baht and budget management 132.3 billion baht.
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