BR1M updates and its effect on Malaysian economy

President of the Consumer Movement said that although Kemaskini br1m 2016 is a good initiative, it may not stimulate the economy in the long run.

He asks,” This initiative is a good start, but can timely payments be executed and can we sustain this in the long run?” What is actually needed is a government joint venture to assess leaks and other unscrupulous behavior within the administration, which according to him is the central issue behind the failure of the economy. “Improve execution against dishonesty” seems to be the main mantra.

“Equally critical, is for the governments to redouble their efforts to monitor leaks in administrative costs and the findings disclosed in the annual report to the Auditor General.”

Other proposals include a “reform or tax relief” for the middle-class students in their tuition fees, school bus fees, EPF contributions, medical expenses including family, child care and parent care costs. “Building a strong middle class with the ability to spend is the key factor to contribute to the growth of a strong domestic economy.”, says Darshan.

In order to maintain domestic consumption, the government should bring in more schemes like online aids in 2016 that help the middle class. He feels that borang br1m would be the answer to rising fuel costs and recent concerns over inflation are due to increasing costs prevalent in the country. Helpful people-oriented schemes like brim Kemaskini should prevent further rises in economic costs throughout the country and bring a semblance of stability to the nation.