PUBLISHED : 6 Oct 2023 at 06:46
The government took a first step on Thursday in its push for the 10,000-baht digital wallet handout scheme with a panel set up to steer its flagship economic stimulus policy, which is expected to begin on Feb 1.
Prime Minister and Finance Minister Srettha Thavisin chaired the first meeting of the digital wallet policy committee.
Attendees approved the appointment of a subcommittee to steer the policy, with Deputy Finance Minister Julapun Amornvivat as chairman.
The subpanel is tasked with working on details of the scheme, and it will present them to the main committee for approval.
Government spokesman Chai Wacharonke said attendees discussed a framework for the scheme, its scope, sources of funding and the management of related data.
“The project was widely discussed, and the government thinks it is necessary. All members [of the committee] are experts and specialists, and the prime minister wants them to offer suggestions,” Mr Chai said.
“Any differences of opinion should be thrashed out by committee members so a solution can be found and any confusion among the public can be avoided,” he said.
“This is the government’s major policy. The prime minister … intends to see it materialise.”
During his speech at the Bangkok Post Forum 2023 titled “Thailand: The Era of Change” held at the Centara Grand at CentralWorld on Tuesday, Mr Srettha said the scheme will inject US$16 billion into the Thai economy, adding the ripple effect could extend next year to $57 billion, equivalent to 5% of GDP.
Mr Srettha said this would lay the foundation for a nationwide blockchain-based financial payment system and help streamline the processes facilitating foreign investment.
The government plans to give 10,000 baht in digital money to all Thais aged over 16 years by Feb 1 in the form of a single payment.
It aims to boost spending in local communities in the first six months by ensuring the money is spent within a 4km radius of the recipients’ registered address.
