Finance Ministry seeks cash handout approval

Finance Ministry seeks cash handout approval

The Finance Ministry will seek the cabinet's approval on using the remaining 300-billion-baht sum of the 1-trillion-baht emergency loan decree to fund the 3,500-baht money transfer relief scheme for two months for nearly 40 million people.

The cabinet is expected to deliberate the monetary relief scheme today, with expectations that the financial remedy will have to be funded by a budget of around 200-300 billion baht, said a Finance Ministry source who spoke on condition of anonymity.

It was reported previously that the government used a budget of 390 billion baht for last year's 5,000-baht monthly stipend scheme, which ran for three months.

The two monthly payments of 3,500 baht are among the raft of recently rolled out measures designed to ease people's plight, the others being reduced electricity and water bills, and soft loans to businesses.

The Finance Ministry is still working out details of distributing the financial remedy.

Informal workers, freelancers and farmers who are not covered by the social security system are eligible for the payments under the new financial relief measure.

Besides the total number of 14 million informal workers and freelancers not covered by the social security system as well as holders of state welfare cards, it is estimated that 30-40 million people are eligible for the 3,500-baht money transfer for two months, said the source.

Those who received the previous financial remedy of 5,000 baht for three months or those whose information is embedded in the Finance Ministry's system will not have to re-register, said the source.

It was recently reported that informal workers must have monetary deposits in a bank account to be eligible for the 3,500-baht financial relief available for a two-month period.

The sum of deposits required to be eligible for the financial relief cannot be disclosed because that could lead to circumvention.

Having cash in deposit accounts was also a criteria for the previous 5,000-baht money transfer scheme that ran from April to June last year.

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