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Budget 2021: What Is There For The B40?

Budget 2021: What Is There For The B40?

Free internet, more financial aid and insurance discounts.

Hakim Hassan

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Budget 2021 was presented on 6 November targeting many income groups including the Below 40 group or B40.

We’ve listed down all of the benefits that you can get if you’re under that income group for both families and individuals.

Just in case you’re not sure if you’re a B40 or an M40, check out this article.

For families

Community centres

Community centres for B40 families with working parents, are being touted as a place of care for children after they end their daily school session.

The centres will be run in collaboration with NGOs and will be equipped with personal care facilities, tuition classes, mini libraries and provide mentoring programs.

Bantuan Prihatin Rakyat

  • Households with monthly income of less than RM2,500 with one child will receive assistance of RM1,200.
  • Households with two children or more will receive assistance as much as RM1,800.

Kadar Bantuan Kanak-Kanak Keluarga Miskin

  • Aid to help children in poor families is raised from RM100 per child with a maximum RM450 per family to:
    • RM150 for a child aged seven to 18 years
    • RM200 for a child aged six and below
    • The maximum now is RM1,000 per family.
  • Improving the Supplementary Meal Plan by giving out milk every day instead of twice a week.

For individuals

Bantuan Prihatin Nasional

Individuals who earn RM2,500 and below, will receive assistance of RM350 and the age limit has been lowered to 21 years, compared to 40 years old previously.

Temporary Measures Act For Reducing the Effects of Coronavirus Disease 2019 (COVID-19).

This Act provides exemption or relief to the people who are unable to meet contractual obligations such as rental payments due to the spread of this epidemic.

COVID-19 Mediation Center was also established specifically to assist the B40 and M40 groups as well micro companies in contractual disputes.

PRIHATIN Network Programme

  • Starting the first quarter 2021, about 8 million recipients from the B40 group will receive assistance of RM180 per person in the form of telecommunications credit.
  • This assistance can be used for expenses such as internet subscriptions or to cover part of the purchase cost for new cell phones.
  • Free data worth RM1.5 billion will be given out by telecommunications companies.

Program Baucar Perlindungan Tenang

  • RM50 voucher as financial assistance to purchase insurance products including life takaful and personal accidents.
  • The stamp duty exemption period on all products with annual contributions not exceeding RM100 will be extended for another 5 years until the year of assessment 2025.

Targeted Payment Assistance

Improved Targeted Payment Assistance for B40 borrowers with the loan amount of up to RM150,000 starting December.

  • Postpone monthly instalments for 3 months
  • 50% monthly instalment reduction for 6 months.

Eligible borrowers only need to contact the bank to complete the documentation process.

MyPass is extended

The implementation of the My30 unlimited travel pass initiative will continue and extended to Penang and the city of Kuantan.

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