Prime Minister Datuk Seri Najib Tun Razak has tabled Budget 2010 with the theme "1Malaysia, Together We Prosper". Totalling RM191.5 bil, he said it would be the foundation of a new economic model and precursor to the 10th Malaysia Plan.HIGHLIGHTS
* Government to sanction RM20 million to intensify green awareness activities and practise environment-friendly lifestyle.
* Develop Putrajaya and Cyberjaya as pioneer townships in Green Technology as a showcase for the development of other townships.
* Establish a RM1.5 billion fund to promote green technology, with a maximum RM50 million financing for suppliers and RM10 million for consumer companies.
Applications for financing through the National Green Technology Centre to commence on Jan 1, 2010 and 140 companies are to benefit.
* Building owners obtaining GBI Certificates from tomorrow until Dec 31, 2014 are to be given income tax exemption equivalent to additional capital expenditure.
* Stamp duty exemption to buyers of buildings with GBI Certificates from tomorrow till Dec 31, 2014.
* RM149 million allocation to develop food farming industry such as fruits, vegetables, organic farming, herbs, seaweeds and swiftlet nests.
* RM58 million to develop basic infrastructures for livestock farms and establish supply chains for beef and mutton production.
* A consortium comprising FELDA, FELCRA and RISDA will be established by the end of 2009, with a paid-up capital of RM300 million and with each agency contributing RM100 million.
* Government to provide subsidies, incentives and assistance amounting to some RM2 billion to farmers and fisherman to safeguard their interests.
* Government to allocate RM9 billion to finance infrastructure projects, with RM4.7 billion for road and bridge projects, RM2.6 billion for water supply and sewerage services, RM899 million for rail facilities, RM820 million for ports and sea services and RM276 milliion for airport projects.
* To consolidate 79 SME funds to 33 to simplify access to SME financing to be coordinated by SME Corp.
* To allocate RM350 million to SME Corp, with RM200 million set aside for SME soft loans, RM100 million for capacity enhancement and the balance for branding and promotion.
* Financial institutions to approve micro-financing in six days and disbursement in four days
* To allocate RM538 million for implementation of various SME programmes, with RM281 million to state economic development corporations, RM200 million to TEKUN and RM57 million for purchase of business premises and infrastructures.
* Government aims for all normal school children to master basic literacy and numeracy after three years of schooling with RM32 million allocation for year 1 pupils in 2010.
* RM30 billion allocated for primary and secondary education, among others, for student assistance and scholarships and to build 80 new national and primary secondary schools, government-aided religious schools, national-type Chinese and Tamil schools and mission schools.
* Additional RM1.1 billion to refurbish and upgrade schools nation-wide especially in Sabah and Sarawak.
* Public-private collaborations to include an integrated immigration, customs and quarantine complex in Bukit Kayu Hitam, construction of six UiTM campuses and the development of MATRADE centre
* 1Malaysia Development Bhd (1MDB) will establish a corporate social responsibility fund totalling RM100 million as a start to finance community activities
* Government to allocate RM899 million to intensify tourism industry.
* Government to enhance tax incentives for healthcare service providers who offer services to foreign health tourists with income tax exemptions of 100 per cent on the value of increased exports from 50 per cent previously.
* Individual taxpayers to be given tax relief on broadband subscription fee up to RM500 a year from 2010 to 2012
* Civil servants are eligible to apply for computer loans once in every three years and up to a maximum of RM5,000 from the government once in every five years
* Formulate Halal Act in collaboration with State Islamic Religious Councils.
* To corporatise the Halal Industry Development Corporation as an agency under MITI
* Intensify Halal Certification by the Islamic Development Department of Malaysia (JAKIM) by collaborating with international institutions to obtain standards certification such as HACCP ad GMP.
* To provide RM24 million to develop halal products anti-smuggling system at three entry points and three main ports.
* Allocate RM137 million to upgrade and improve drainage and irrigation infrastructures in paddy fields involving 180,000 farmers.
* To provide RM70 million to build the Paya Peda Dam Project in Terengganu to increase water supply capacity to paddy irrigation scheme in Besut.
* Allocate RM82 million to modernise aquaculture industry and conduct entrepreneurship training scheme for aquaculture breeders with focus on production of fish fry and ornamental fish.
* Govt to provide almost RM2 billion in subsidies, incentives and assistance to farmers and fishermen; padi price subsidiy of over RM400 million; padi fertiliser subsidy of almost RM300 million; RM170 million allocated for cost of living and incentives to fishermen.
* RM9 billion allocated for various infrastructure projects, including roads, water-related, rail, ports and airports.
* Malaysia economy to grow 2-3 per cent in 2010.
* Mining to grow 1.1 per cent, manufacturing sector 1.7 per cent, agriculture 2.5 per cent, construction 3.2 per cent and service 3.6 per cent; private consumption expand 2.9 per cent while private investment 3.4 per cent; per capita income to increase by 2.5 per cent to RM24,661; and TNB to spend RM5 billion to implement electricity generation, transmission and distribution projects in 2010.
* 1Malaysia Development Bhd has been allocated RM100 million for corporate social responsibility (CSR) activities.
* Malaysia's GDP will grow 2-3% in 2010. For 2009, GDP forecast is -3% from earlier estimate of between -4% and -5%.
Information on the budget is available on:
Finance Ministry : www.treasury.gov.my
Bank Negara : www.bnm.gov.my
Bernama : www.bernama.com.my
New Straits Times : www.nst.com.my
The Star : www.thestar.com.my