The Council of State gave the greenlight to the government’s plan to implement the digital wallet scheme through the loan bill but it has to adhere to the framework of the Fiscal Discipline Act, said Deputy Finance Minister Julapan Amornvivat.
The government must explain the reasons why it is necessary to issue the loan bill. The scheme requires a thorough evaluation before and after project implementation and must be open to a public hearing from all sides.
The 10,000 Baht digital wallet project is planned for Thais aged 16 and above, totaling 50 million people, through a proposed 500-billion baht loan bill.
After the vetting by the Council of State, the Cabinet meeting on Tuesday will discuss the digital handout project and the digital wallet policy committee will meet next week.
The government needs to prove that Thailand still faces crises and vulnerabilities. Transfer of digital wallet money is another mechanism to boost and aid the Thai economy.
The process will not take long as the plan is already prepared, and the money transfer is set to proceed as scheduled in May, 2024, said Mr. Julapan. (TNA)
