KUALA LUMPUR, Nov 6 (Sin Chew Daily) — Finance minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz tabled the 2021 Budget at the Dewan Rakyat this afternoon.

The budget, themed "In Our Strength Lies Our Collective Victory", is anchored on three thrusts, namely the people's well-being, business continuity and economic resilience.

The following are some of the highlights of the Budget:

– RM236.5 billion allocated for operating expenditure, RM69 billion for development expenditure and RM17 billion as contingency savings.

– RM15 billion has been allocated to finance projects, including Pan-Borneo Highway, Gemas-Johor Bahru electrified double track and the Klang Valley double track Phase One.

– High-Speed Rail project will continue as it will generate multiplier effects on the country's economy. 

– The federal government's total gross borrowings are expected to increase by 31.5% from the original estimate to record RM181.5 billion or 12.6% of GDP due to the need to finance the COVID-19 stimulus measures.

– RM50 vouchers for the B40 group under the Baucar Perlindungan Tenang program.

– Tax relief scope expanded for medical expenses encompassing vaccination like pneumococcal, influenza and COVID-19.

– The government plans to raise the ceiling for the COVID-19 Fund from RM20 billion to RM65 billlion to fund the Kita Prihatin supplementary assistance package.

– RM1 billion to be allocated to curb the third wave of COVID-19 infections in addition to RM1.8 billion allocated in 2020.

– Tax relief for personal, spouse and children's medical care expenses for serious illness is increased from RM6,000 to RM8,000.

– Households with monthly income below RM2,500 with at least one child to receive RM1,200 under Bantuan Prihatin Rakyat.

– Personal income tax is reduced by one percentage point for those earning RM50,001-RM70,000.

– EPF minimum contribution to be reduced to 9% starting January 2021.

– Targeted EPF Account 1 withdrawal facility of RM500 per month, up to RM6,000 for 12 months. Total withdrawal from EPF Account 1 will be RM4 billion.

– The government provides almost RM28 billion specifically for subsidies, assistance and incentives.

– Assistance for senior citizens, care for disabled and bed-ridden chronically ill patients increased to RM500.

– Withdrawal from EPF Account 2 for purchase of life insurance and takaful protection products and for critical illnesses.

– RM500 one-off allowance for Ministry of Health frontliners.

– Tax relief increased to RM8,000 for parents' medical, special needs and care expenses.

– Aid for disabled people unable to work to be increased from RM250 to RM300, while disabled workers' allowance increased to RM450.

– Bantuan Prihatin Rakyat aid package to benefit 8.1 million people with allocation of RM6.5 billion, compared to 4.3 million recipients and RM5 billion under Bantuan Sara Hidup.

– RM3.7 billion to be allocated under Janakerja aimed at creating 500,000 new jobs.

– RM1 billion to be allocated for high-tech and value-added investment incentive packages.

– RM500 million high-tech fund to be provided by Bank Negara to support companies in high-tech and innovative sector.

– Stamp duty exemption on instrument of transfer and loan agreement for purchase of first house worth up to RM500,000.