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The Cabinet yesterday approved a 12.75 billion baht fund to help 5.4 million low income earners who have already registered for state welfares.
Under the scheme which will become effective January 1 next year, people earning less than 30,000 baht a year will be given 3,000 baht as a one time subsidy for cost of living, and those earning between 30,001-100,000 baht will get 1,500 baht subsidy.
The government subsidies will be paid into the personal bank accounts of the low income earners from January 1-30 next year.
In addition to the cost of living subsidy the government also approved the Wage Committee’s proposal to increase minimum wage in 69 provinces between 5-10 baht, with the exemption of eight provinces which did not propose for wage increase.
Minimum wage in these eight provinces will remain at 300-baht a day.
The approved wage increase will be effective on January 1 next year.
Prime Minister Gen Prayut Chan-o-cha assured that the government subsidy wasn’t wasteful as this sum of money given to the low income earners will help to stimulate spending that will eventually spur economic growth.
He also said he did not wish the subsidy scheme to be called a distribution of money but an assistant measure to help low income earners in other occupation in addition to farmers.