The government has added a new condition for its digital wallet handout, saying recipients must not have more than 500,000 baht in their deposit accounts as of March 31.
Deputy Finance Minister Julapun Amornvivat outlined the new terms on Wednesday after a meeting of the subcommittee that is overseeing the programme.
For determining eligibility, deposit accounts include current, savings and fixed-deposit accounts, deposit cards and deposit receipts, but do not include state bank savings lotteries or deposits in currencies other than baht, Mr Julapun said.
The age requirement is 16 or older as of Sept 30 this year, which marks the deadline for registration.
Deputy Finance Minister Paopoom Rojanasakul said the eligibility conditions include an annual income not exceeding 840,000 baht or 70,000 baht a month.
The Ministry of Finance has indicated it plans to use the tax database of the Revenue Department for taxpayers who filed returns in 2023.
The definition of small businesses eligible to participate in the first round of digital wallet spending remains as defined by the cabinet resolution, excluding supermarkets and hypermarkets.
Small businesses can register to participate in the scheme during the third quarter of this year.
The handout of 10,000 baht to roughly 50 million people requires a budget of 500 billion baht, but the government hopes the multiplier effect of people’s spending will be far greater and stimulate the economy in a big way.
The programme is to be funded by budget expenditure in fiscal 2024 and 2025, as well as funds that comply with Section 28 of the State Fiscal and Financial Discipline Act.
A key campaign pledge of the Pheu Thai Party, the programme has been delayed twice because of questions about funding, and is now scheduled to start in the fourth quarter of this year.