{"id":6944,"date":"2010-10-15T17:27:07","date_gmt":"2010-10-15T09:27:07","guid":{"rendered":"http:\/\/poobalan.com\/blog\/others\/2010\/10\/15\/budget-2011\/"},"modified":"2010-10-15T17:42:49","modified_gmt":"2010-10-15T09:42:49","slug":"budget-2011","status":"publish","type":"post","link":"https:\/\/poobalan.com\/blog\/borninmalaysia\/2010\/10\/15\/budget-2011\/","title":{"rendered":"Budget 2011"},"content":{"rendered":"<p>This is summary of Malaysian Budget 2011 which was presented live by PM Najib from 4pm till 5.42pm.<\/p>\n<p>Basic Info:<\/p>\n<ul>\n<li>RM212b for budget, 2.8pc higher than 2010<\/li>\n<li>Of entire budget, RM162.8b for operating expenses &amp; RM49.2b for development expenditure.<\/li>\n<li> Income per capita will increase 6.1% to RM28,000 while income in terms of purchasing power parity to US$16,000<\/li>\n<li>Govt aims to achieve 6% growth in 2011<\/li>\n<li> Federal Government deficit to decline to 5.4pc of GDP in 2011, from 5.6pc in 2010.<\/li>\n<li>Government revenue collection is estimated to increase 2.3% to RM165.8 billion in 2011, up from RM162.1 billion in 2010<\/li>\n<\/ul>\n<p>The Good<\/p>\n<ul>\n<li>Government will extend tax relief of up to RM5,000 to help parents w\/ expenses such as daycare, caretakers &amp; other daily needs<\/li>\n<li> Govt will increase pre-school enrolment rate to a targeted 72% by end-2011 through an additional 1,700 classes.<\/li>\n<li>RM20mil to increase PhD qualified academic staff to 75% in research unis, to 60% in other higher learning institutions.<\/li>\n<li>Govt will increase pre-school enrolment rate to a targeted 72% by end-2011 through an additional 1,700 classes.<\/li>\n<li>RM40b MRT to begin in 2011, ready by 2020.<\/li>\n<li> import duty on approximately 300 goods preferred by tourists and locals, at 5% to 30%, be abolished.<\/li>\n<li>50pc stamp duty exemption for first-time house buyers for houses not exceeding RM350,000.<\/li>\n<li>RM576mil allocated in the form of scholarships for those wishing to further their studies<\/li>\n<li>RM500 financial assistance to government staff RM500 Special Financial Assistance for civil servants Grade 54 &amp; below in December 2010.<\/li>\n<li> No increase of toll rates for next 5 years in PLUS highways.<\/li>\n<li>Mobile phones exempted from 10pc sales tax effective Oct 15.<\/li>\n<li>To revitalise capital market activities, the Govt will launch a Private Pension Fund in 2011<\/li>\n<li>To assist children, particularly low-income, excel academically, the 1MDB will provide multi-vitamins for primary school pupils<\/li>\n<li>A mixed development project including affordable houses to be developed at a cost of RM10 billion in Sungai Buloh and is expected to be completed by 2025 (hopefully more of the &#8220;affordable&#8221; types rather than luxury types]<\/li>\n<\/ul>\n<p>And The Bad:<\/p>\n<ul>\n<li> A new landmark, Warisan Merdeka, expected to be completed in 2020, will include a 100-storey tower, the tallest in Malaysia costing RM5 billion [<span style=\"color: #ff0000;\"><strong>another mega project!<\/strong><\/span>]<\/li>\n<li>Rate of service tax be increased from 5% to 6%. <span style=\"color: #ff0000;\"><strong>[increase in everything from handphone bill to KFC to Astro!<\/strong><\/span>]<\/li>\n<li>New 6pc service tax for paid TV broadcasting service effective Jan 2, 2011. [<span style=\"color: #ff0000;\"><strong>affects Astro users<\/strong><\/span>]<\/li>\n<li>RM250mil for development expenditure to schools: religious, Chinese-type, Tamil national, missionary, Government-assisted [<span style=\"color: #ff0000;\"><strong>too little! If divide by four, its just RM 62 million<\/strong><\/span>].<\/li>\n<li>Govt will enforce basic minimum wages for security guards, to between RM500 and RM700 a month depending on location [<span style=\"color: #ff0000;\"><strong>The minimum wage should be more than poverty line. Should be set to minimum RM700 to RMxxx<\/strong><\/span>]<\/li>\n<li>Government allocates RM100 million for Orang Asli &amp; Pribumis. [<span style=\"color: #ff0000;\"><strong>Again, too little!<\/strong><\/span>]<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>This is summary of Malaysian Budget 2011 which was presented live by PM Najib from 4pm till 5.42pm. Basic Info: RM212b for budget, 2.8pc higher than 2010 Of entire budget, RM162.8b for operating expenses &amp; RM49.2b for development expenditure. Income per capita will increase 6.1% to RM28,000 while income in terms of purchasing power parity [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-6944","post","type-post","status-publish","format-standard","hentry","category-borninmalaysia"],"_links":{"self":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/posts\/6944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/comments?post=6944"}],"version-history":[{"count":1,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/posts\/6944\/revisions"}],"predecessor-version":[{"id":6945,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/posts\/6944\/revisions\/6945"}],"wp:attachment":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/media?parent=6944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/categories?post=6944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/tags?post=6944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}