Thailand throws ‘baht’ at impact study of 10,000-baht handouts
In a bid to decipher the ripple effects of Thailand’s 10,000-baht cash handout scheme, the Finance Ministry launched an exhaustive survey. This deep dive, spanning 40,000 participants, aims to unravel the true impact of this financial initiative on the economy and society as a whole.
Finance Permanent Secretary Lavaron Sangsnit promises findings by the month’s end.
“This survey uses a large sample size to ensure the results reflect the true impact of the programme, helping to determine whether it is a worthwhile initiative.”
Lavaron added the groundbreaking nature of this analysis that seeks to go beyond the usual conjecture.
Suan Dusit University has been roped in to independently scrutinise the spending habits of recipients, while the University of the Thai Chamber of Commerce assesses the scheme’s impact on entrepreneurs.
To bolster the survey’s accuracy, the ministry, alongside the National Economic and Social Development Council, plans to merge findings with data from the concurrent population census by the National Statistical Office.
Digital wallet drop
Originally, the handout targeted anyone over 16 through a one-time digital wallet drop. However, criticism around its economic sense and legal framework, particularly from the sceptical Bank of Thailand, led to a reevaluation. The central bank had argued for a more honed approach, directing funds to those really in the lurch.
In response, the government tightened the criteria: only those with a monthly income under 70,000 baht or savings below 500,000 baht qualify. The phased rollout kicked off with state welfare cardholders registering through the Tang Rat app, covering a whopping 14.4 million people.
With a budget of around 144 billion baht, cash distribution started in September. By November’s end, 1.44 million individuals had pocketed their baht boost. However, a stumbling block remains—75,400 eligible recipients still haven’t completed vital steps, like linking their PromptPay accounts.
These dawdlers have until December 19 to wrap up the process or forfeit this financial lifeline, according to ministry stipulations.
As the dust settles on this study, the pressing question remains: is the government’s 10,000-baht splash truly a flash of brilliance, or just cash going down the drain? With findings soon to come, the Finance Ministry hopes to illuminate the handout’s success—or failure—and guide future financial strategies with clearer foresight.
Frequently Asked Questions
Here are some common questions asked about this news.
Why is the Finance Ministry conducting a large-scale survey on the cash handout scheme?
The survey aims to provide concrete insights into the programme’s real-world implications, moving beyond mere speculation.
How might the survey results influence future economic policies in Thailand?
The results could guide the government in refining or redesigning economic aid strategies to better target and address societal needs.
What if the survey reveals significant flaws in the handout scheme’s implementation?
It could lead to policy adjustments, ensuring future distributions are more effective and targeted towards genuine needs.
How does collaboration with universities enhance the survey’s credibility?
Independent assessments by universities ensure objective analysis, while diverse perspectives enrich the understanding of economic and societal impacts.
What are the potential consequences for individuals who fail to claim their handout by the deadline?
They will be considered as having opted out, missing the opportunity to benefit from the financial aid provided by the scheme.
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