Advantage of Budget Plan 2015

4. The Advantage in Malaysia’s Budget Plan 2015

        YAB Dato’ Sri Mohd Najib Tun Haji Abdul Razak presented the Malaysia’s Budget Plan 2015 on Friday October 10th 2015. Budget Plan 2015 are formulated and brings out more focus in the People’s Economy. In my personal point of view, the 2015 Budget Plan is a nice balance of the people’s economy and the capital economy. The people’s economy is aligned with the citizen’s interest like their employment, their cost of living, their income, the quality of their life. However, the capital economy is more to the managing of economy and the policies made. This includes macroeconomics viewpoint whereby it involves GDP growth, income per capita, capital market and more.

        One of the advantage of the Malaysia Budget Plan 2015 is,

(intro skit psl pelancaran GST)

        Even when the GST is launched on April 2015, the Malaysian government enlarge the number of 0 rated GST for medicine brands. Datuk Subromaniam Tholasy (2015), GST director for the Royal Malaysian Customs Department stated that, “ The government will still be looking at expanding the list. The health ministry has submitted a few proposals to be considered by the government on exempting GST in healthcare.” Up to 2,900 brands were listed but then were increased to 4,215 brands. Today in the 2016, the number of medicine brands excluded from GST increases up to 8,630. However, medicines for pets are not GST exempted. This is because, the government pays more attention towards on lower income citizens and provide assistance for their basic needs.

        Also, there are more goods and items that are agreed by the government not to be charged with GST. These type of goods and items are as follows:

1. Fruits, local or foreign
2. White and wholemeal bread
3. Coffee and cocoa powder and tea dust
4. Newspapers and other reading materials

        Other than that to ensure that the citizens are not burden with the new implimnetation of GST, the government