{"id":100161,"date":"2020-11-06T17:17:54","date_gmt":"2020-11-06T09:17:54","guid":{"rendered":"http:\/\/www.namnewsnetwork.org\/?p=100161"},"modified":"2020-11-06T17:59:10","modified_gmt":"2020-11-06T09:59:10","slug":"budget-2021-aims-at-peoples-welfare-nations-economy-pandemic-challenges","status":"publish","type":"post","link":"http:\/\/namnewsnetwork.org\/?p=100161","title":{"rendered":"Updated: Budget 2021 aims at people&#8217;s welfare, nation&#8217;s economy, pandemic challenges"},"content":{"rendered":"\n<p><br><\/p>\n\n\n\n<h4>BUDGET 2021 HIGHLIGHTS<\/h4>\n\n\n\n<p>KUALA LUMPUR, Nov 6  (NNN-BERNAMA) &#8212; The following are the economic highlights of the Budget 2021 tabled in Parliament today by Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.<\/p>\n\n\n\n<p>The budget, themed &#8220;In Our Strength Lies Our Collective Victory&#8221;, is anchored on three&nbsp;thrusts, namely&nbsp;the people&#8217;s wellbeing, business continuity and economic resilience.&nbsp;<\/p>\n\n\n\n<ul><li>The government plans to raise the ceiling for the COVID-19 Fund from RM20 billion to&nbsp;RM65 billlion to fund the&nbsp;KITA&nbsp;PRIHATIN supplementary assistance package.&nbsp;<\/li><li>RM1 billion will be allocated to curb the third wave of the COVID-19 infections.<\/li><li>The tax relief for&nbsp;personal, spouse and children\u2019s&nbsp;medical care expenses for serious illness is increased to&nbsp;RM8,000 from&nbsp; RM6,000.<\/li><li>RM1,200 in cash assistance will be disbursed to households&nbsp;with one child with a monthly&nbsp;income of less than RM2,500 with one child.<\/li><\/ul>\n\n\n\n<ul><li>Personal income tax is reduced by one percentage point\u00a0for those earning RM50,001-RM70,000.<\/li><li>Employees&#8217; minimum EPF contribution is reduced to nine per cent starting January 2021<\/li><li>The government has announced a targeted EPF Account 1 withdrawal facility of RM500 per month, up to RM6,000 for 12 months.<\/li><li>Total withdrawal from EPF Account 1 will be RM4 billion.<\/li><li>The government provides almost RM28 billion specifically for subsidies, assistance and incentives.<\/li><li><\/li><\/ul>\n\n\n\n<ul><li>The EPF allows withdrawal from Account 2 for the purchase of life insurance and takaful coverage products and for critical illnesses.<\/li><li>Individual income tax relief of up to RM3,000 on Private Retirement Scheme contributions is extended until the year of assessment 2025.<\/li><li>The government to provide\u00a0RM4.6 billion to empower Bumiputeras.<\/li><li>The government to\u00a0allocate\u00a0RM510 million for the purpose of financing to Bumiputera SMEs and micro SMEs through TEKUN Nasional and PUNB.<\/li><li>The government to\u00a0provide\u00a0RM800 million through Bank Pembangunan Malaysia dan SME Bank\u2019s\u00a0capacity-building programme.\u00a0<\/li><li><\/li><\/ul>\n\n\n\n<ul><li>Government allocates RM95 million for special micro-credit fund to empower women entrepreneurs<\/li><li>A guidance programme for more than&nbsp;2,000 women entrepreneurs will be provided&nbsp;under&nbsp;the Micro Entrepreneur Business Development Programme (BizMe).<\/li><li>The government has allocated RM500 million to implement the National Digital Network (JENDELA) initiative in 2021.<\/li><li>Full stamp duty exemption will be given&nbsp;for deeds of transfer and loan agreement for the first house&nbsp;purchase worth up to RM500,000.<\/li><li>Full stamp duty exemption for deeds of transfer for rescue contractors and original buyers of&nbsp;abandoned housing projects has been extended by another five years.&nbsp;<\/li><\/ul>\n\n\n\n<ul><li><\/li><\/ul>\n\n\n\n<p>&#8211;<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BUDGET 2021 HIGHLIGHTS KUALA LUMPUR, Nov 6 (NNN-BERNAMA) &#8212; The following are the economic highlights of the Budget 2021 tabled in Parliament today by Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz. The budget, themed &#8220;In Our Strength Lies Our Collective Victory&#8221;, is anchored on three&nbsp;thrusts, namely&nbsp;the people&#8217;s wellbeing, business continuity and economic resilience.&nbsp; The [&hellip;]<\/p>\n","protected":false},"author":19,"featured_media":88268,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[288,300,318],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/100161"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=100161"}],"version-history":[{"count":0,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/100161\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/88268"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=100161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=100161"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=100161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}