Prime Minister Srettha Thavisin on Wednesday will outline more details of the government’s flagship digital money handout, in which more than one million shops and vendors are registering to participate, the government said on Tuesday.
According to Deputy Prime Minister Phumtham Wechayachai, most of the details involve what eligible recipients will have to do to get the digital money and spend it.
Other details would follow in a week or so, he said. Sellers agreeing to participate include more than 500,000 stores under the Thai Retailers Association, 150,000 government-certified Blue Flag low-cost shops and food stalls, and around 500,000 street food vendors, said Mr Phumtham, who is also the commerce minister.
Registration of both sellers and eligible recipients would be completed before the distribution of the money begins in October.
In response to a question about whether the funds could be used at 7-Elevens, Mr Phumtham said he understood that the convenience store chain — which has about 15,000 branches nationwide — would be allowed to participate in the scheme.
The digital wallet programme, estimated to cost up to 500 billion baht, is the flagship stimulus policy of the Pheu Thai-led coalition. Concerns about how it would be funded have already delayed its introduction twice this year. As well, economists and two former central bank governors have criticised the plan as fiscally irresponsible.
According to the latest information revealed by Mr Srettha and the Ministry of Finance, the registration period for people to receive the 10,000-baht handout will begin on Aug 1 and end 45 days later.
Eligible people must be of Thai nationality and at least 16 years of age as of Sept 30, 2024, or born before Oct 1, 2008.
According to their 2023 tax year filing records, the total amount of money in their bank accounts must not exceed 500,000 baht, and their annual income must be less than 840,000 baht.
The payment of the money will start on Oct 1 and run for six months, according to Mr Phumtham and the ministry.
The money must be spent in the district where recipients are registered, but officials are still fine-tuning the list of what it can and cannot be used for.
On Monday, Mr Phumtham released an updated list of 18 goods and services excluded from the handout. They include government lotteries, alcoholic beverages, tobacco, jewellery, electrical appliances, electronic devices, communication devices and petrol.