State banks to register 10,000-baht handout for non-smartphone users in November
The government will soon allow individuals without smartphones to register for the 10,000-baht handout scheme at state banks, Deputy Finance Minister Julapun Amornvivat announced.
Julapun noted yesterday, October 19, that the initial phase of the cash handout scheme, targeting 14.5 million vulnerable people, has effectively boosted economic activity and money circulation nationwide.
For those in vulnerable groups lacking smartphones, registration through state-owned banks is expected to commence in November, according to Julapun.
“There will be a clear conclusion after the first meeting of the Economic Stimulus Policy Committee, chaired by the prime minister. The meeting will take place at the earliest by the end of this month.”
The registration system at state banks is reportedly ready to serve people by November.
Julapun mentioned that the second phase of the scheme will also provide 10,000 baht (US$300), though it remains uncertain whether it will be distributed in a lump sum or in instalments, as the ministry has not yet set a time frame for phase two.
“We still follow our goal to develop an open-loop payment system that will allow spending via digital wallets.”
When asked about the potential reintroduction of the Khon La Khrueng co-payment scheme, Julapun confirmed that the government is considering all proposals. If the project proves beneficial, it could be adopted to further stimulate spending.
Nath Vongphanich, President of the Thai Retailers Association, revealed that the association has suggested to Prime Minister Paetongtarn Shinawatra the revival of the Shop Dee Mee Khuen (Shop and Get Rebates) programme from the Revenue Department at the end of the year. This period is considered a high season that could significantly enhance spending, reported Bangkok Post.
“This will increase the opportunity to sell products to entrepreneurs and SMEs who have registered for VAT but have not yet started using it or are in the process of requesting approval to issue tax invoices in electronic form as required by the Revenue Department.
“The measure is proposed to reduce taxes by up to 50,000 baht (US$1,500) for shoppers. The shopping stimulus campaign could generate more than 100 billion baht (US$3 billion) in circulation in the economy.”
