M40 To Benefit From RM250 Billion Stimulus Package
In light of COVID-19 and its impact of the country’s economy, the government has announced a stimulus package worth RM250 billion to lessen the burden of the rakyat.
The stimulus was announced by Prime Minister Tan Sri Muhyiddin Yassin and one of the segments focused addressed by the government is the middle 40 (M40) income group.
The government underlined four initiatives:
1. RM1,600 to nearly 4 million households earning a monthly income of RM4,000 and below. Payment of RM1,000 will be paid in April 2020 and RM600 in May 2020.
2. RM1,000 to almost 1.1 million households earning over RM4,000 to RM8,000 will be paid in April 2020 of RM500 and the remaining RM500 in May.
3. RM800 to 3 million single individuals 21 years of age and monthly income of RM2,000 and below. The RM500 payment will be paid in April 2020 and the remaining RM300 in May 2020.
4. RM500 to 400,000 single individuals 21 years of age with a monthly income of over RM2,000 to RM4,000. A payment of RM250 will be made in April 2020 and the remaining RM250 in May.
In addition to the initiatives, Muhyiddin said the remaining cash donations under the Bantuan Sara Hidup (BSH) program will be paid in July 2020, totaling at RM3.2 billion.
For more updates on COVID-19, check out our Facebook, Twitter and Instagram!
