The government on Wednesday launched the first phase of its US$14 billion stimulus handout scheme, which will eventually see an estimated 45 million people receive 10,000 baht each.

The initial phase will see 10,000 baht distributed in cash to 14.5 million welfare cardholders and disabled people and is expected to be complete by the end of the month.

"Cash will be put into the hands of Thais and create a tornado of spending," Prime Minister Paetongtarn Shinawatra said.

The "digital wallet" scheme initially planned to distribute the funds through a smartphone application, with the money to be spent in local communities within six months.

The original plan proposed by the Pheu Thai Party called for a budget of 450 billion baht to distribute 10,000 baht per head — all of it in the form of digital money — to 45 million people.

The scheme has been criticised by economists, including two former Bank of Thailand (BoT) governors, as financially irresponsible.