The government is considering revising its 10,000-baht digital wallet handout scheme by excluding wealthy people, Deputy Finance Minister Julapun Amornvivat said on Tuesday.

Prime Minister Srettha Thavisin has been defending the scheme against critics who say that its cost, at 560 billion baht, is too much. They say it is still not clear how the programme will be funded.

The digital wallet committee will consider revising the scheme when it meets on Wednesday, or on Oct 19, to exclude wealthy people, as some critics have suggested, Mr Julapun said.

He said the scheme is necessary to help the economy next year, adding that the government expects to see 5% economic growth if the programme performs as expected.

The country has long-standing problems that have drastically affected people’s living conditions, while it has collected fewer taxes, Mr Julapun noted.

The Pheu Thai Party proposed the handout of 10,000 baht to all adult Thais over age 16 as a way to get money circulating in the economy, which would lead to increased tax collection. It is expected to start in February.

The scheme will go ahead despite opposition from more than 120 scholars, researchers, economic experts and even two former Bank of Thailand governors, Mr Julapun said.

The project will still target vulnerable groups and low-income people, he said.

The government expects people to begin registering for the scheme next month.