Thai PM announces 10,000 baht digital wallet registration date

Registration for the 10,000-baht digital wallet handout starts on August 1, as announced by Prime Minister Srettha Thavisin. This initiative aims to stimulate the economy through significant government spending.

The Bangkok-born PM shared the date on X (Twitter) yesterday, July 15, coinciding with the Digital Wallet Policy Committee’s meeting to finalise preparations for registering eligible recipients and vendors. He emphasised the need for measures to address any irregularities and thoroughly review eligibility to maintain the scheme’s integrity.

“The implementation of the scheme will take some time, but the people will not be stood up.”

Deputy Finance Minister Julapun Amornvivat, who leads a sub-committee detailing the handout, confirmed the main committee’s decision not to borrow from the Bank for Agriculture and Agricultural Cooperatives (BAAC). Instead, the programme’s budget is reduced from 500 billion baht to 450 billion baht. Despite this reduction, the project is expected to positively impact the economy.

Julapun explained that the funding would come from two sources: the 2024 fiscal budget (165 billion baht) and the 2025 fiscal budget (258 billion baht). Initially, the plan included 172 billion baht from the BAAC as one of three main funding sources.

However, legal constraints prevent the BAAC from providing loans for economic stimulus as its mandate is limited to supporting farmers.

Majority eligible

Julapun noted that the scheme still targets 50 million people, with a revised budget of 450 billion baht, based on previous government project data showing around 90% of eligible people registered.

“We followed the advice of agencies concerned about budget spending and agreed to trim the project cost. However, if the number of registered people exceeds 90%, we have budgetary mechanisms to deal with it.”

The committee also reviewed various proposals, including the exclusion of vendors previously found breaching conditions of state projects. Additionally, the main committee approved a negative list and tasked the Commerce Ministry with considering whether firearms products should be included. Currently, the list does not cover electrical appliances, electronic devices, or communication devices.

Despite changes to funding sources, Julapun assured that the money would be distributed by the last quarter of this year. Further details will be announced by the PM on July 24.

Chief Government Whip Wisut Chainaroon stated that a bill for the allocation of 122 billion baht from the 2024 fiscal budget for the digital wallets would be presented for a House debate tomorrow. He anticipates that the House will spend about five days examining the bill during its first reading, with government MPs working to expedite the scrutiny process and pass the legislation swiftly.

Wisut dismissed the opposition’s plan to seek the Administrative Court’s intervention if the bill is passed, asserting the necessity of the scheme to stimulate the grassroots economy.

“We’ll expedite the examination because the people need the money. I believe the scheme can stimulate the grassroots economy.”

The Digital Government Agency, responsible for digital ID registration, confirmed that the registration system for the digital wallets via the Tang Rat app is fully operational, reported Bangkok Post.