Photo via NST
The Dewan Rakyat has passed Budget 2021, the first budget of the Perikatan Nasional administration.
It was passed by voice vote, following the Finance Minister's winding-up speech for the budget.
In the speech, Datuk Seri Tengku Zafrul Abdul Aziz announced that several of the budget's initiatives have been expanded.
This includes widening the eligibility of the EPF's Account 1 withdrawal scheme, so that it covers anyone who lost their jobs or suffered a loss of income due to COVID-19.
The withdrawal limit has also been raised to RM10,000.
Meanwhile, an automatic moratorium on loan repayments will be given for the B40 group, as well as micro and small-medium enterprises.
M40 applicants only need to make a document-free declaration at their respective banks.
The RM50 e-belia incentive will be raised to RM100, covering over a million students from public and private institutions of higher learning above the age of 20.
by Faisal Merican
