The budget proposals were crafted based on the theme ‘People Economy’ To this end, the 2015 Budget outlined seven main strategies, namely strengthening economic growth, enhancing fiscal governance, developing human capital and entrepreneurship, advancing Bumiputera agenda, upholding the role of women, developing national youth transformation programme, and prioritising well-being the people.
* 2015 Budget allocates RM273.9 billion, up RM9.8 billion compared to 2014 initial allocation.
* RM223.4 billion is for operating expenditure, RM50.5 billion for development expenditure.
* RM65.6 billion is for emoluments, RM38.1 billion for supplies and services.
* RM29.3 billion allocated to the economic sector.
* RM12.6 billion allocated to the social sector for education, training, health, housing and well-being of society.
* RM4.9 billion earmarked for the security sector, RM1.7 billion for general administration and RM2 billion for contingencies.
* In 2015, Federal Government revenue collection estimated at RM235.2 billion, a RM10.2 billion increase from 2014.
* For 2015, economic growth expected to remain strong between 5 per cent and 6 per cent, fiscal deficit projected to further decline to 3 per cent of GDP.
* In 2015, government revenue estimated at RM23.2 billion with implementation of Goods and Services Tax (GST).
* Government to exempt goods from GST amounting to RM3.8 billion * With GST implementation, Sales and Services Tax (SST) abolished, resulting in revenue foregone of RM13.8 billion.
* RM4.9 billion to be channelled back to the people through assistance programmes, such as the increase in Bantuan Rakyat 1Malaysia (BR1M).
* RM690 million net revenue collection from GST
* RM65.6 billion is for emoluments, RM38.1 billion for supplies and services.
* RM29.3 billion allocated to the economic sector.
* RM12.6 billion allocated to the social sector for education, training, health, housing and well-being of society.
* RM4.9 billion earmarked for the security sector, RM1.7 billion for general administration and RM2 billion for contingencies.
* In 2015, Federal Government revenue collection estimated at RM235.2 billion, a RM10.2 billion increase from 2014.
* For 2015, economic growth expected to remain strong between 5 per cent and 6 per cent, fiscal deficit projected to further decline to 3 per cent of GDP.
— BERNAMA
