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Government earmarks Bt110bn stimulating grass-roots economy
Thailand’s Deputy Prime Minister and Industry Minister Suwit Khunkitti last
week revealed that the government planned to spend Bt110 billion (US$3.3
billion) to help stimulate the economy at the grass-roots level through the
village fund and the small-, medium-, and large-scale (SML) enterprise fund.
He said the government was paying serious attention to jump starting the
country’s economy. It would set aside an additional Bt80 billion (US$2.4
billion) from the village fund and around Bt30 billion (US$909 million) from
the SML fund to stimulate the economy in less well off areas.
The funds would be injected into local communities through the Bank for
Agriculture and Agricultural Cooperatives and the Government Savings Bank
within this year to create more income for people in the rural areas.
Once the grass-roots economy has picked up, it would help make the overall
economy turn around, he said.
“This government will pay attention to increasing incomes and reducing
spending among the people at the grass-roots level. In the past two years,
the living of people in rural areas has been ignored. So, it is necessary to
revive the village fund and SML projects,” he said.
Mr. Suwit said the government’s policy must be delivered before the
parliament will give priority to basic infrastructure development,
construction of electric mass transit rail routes in Bangkok and its
environs, dual-track rail lines upcountry, and water resources management.
The deputy premier said he had discussed with Transport Minister Santi
Prompat the planned construction of the rail system in support of
distribution of products into many areas including industrial estates to
reduce production costs. (TNA)
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