Thailand's Cabinet Approves US$1.62 Billion Cash Handout

BANGKOK, Sept 23 (Bernama) – Thailand’s cabinet on Tuesday approved a 51 billion baht (US$1.62 billion, US$1 = 31.42 baht) cash handout to the low-income group to boost domestic consumption and cushion the impact from the COVID-19 pandemic. The cash handout comprises the distribution of 30 billion baht to 10 million people to allow them to buy consumer goods and 21 billion baht to 14 million welfare cardholders. Under the 30 billion baht scheme, recipients will get a daily discount of 100 baht per day or 3,000 baht per month to buy food, beverages and household goods from small vendors. The scheme does not include convenience stores and franchises. Meanwhile, welfare cardholders will receive an additional 500 baht starting from next month to December this year. After chairing the cabinet meeting on Tuesday, Prime Minister Prayuth Chan o-cha said the cash handouts will stimulate domestic consumption and spending. “The handouts will increase the people’s purchasing power and reduce cost of living. “These measures are meant to be a targeted assistance for the low-income group,” he said at a press conference at the Government House Tuesday. The plans will be financed by the government’s 1 trillion baht borrowing. -- BERNAMA