Budget 2012 Updates

- FDI hits RM29 billions

- GDP growth expected to be 5% to 6% in 2012 while deficit expected to shrink to 4.7% in 2012 from 5.2% in 2011

- Total revenue for 2012 is forecast to increase to RM186.9 billions or 1.9%.

- Foreign reserve: RM414.5 billions

- Private investment expected to climb by 15.9% in 2012

- RM29.8 billions are allocated for investment in infrastructure, industrial and rural development

- RM13.6 billions are allocated for the social sector, including education and training, welfare, housing and community development

- Rolling Plan 2 will be implemented in 2012, and RM98.4 billions will be allocated and to be split evenly between 2012 & 2013

- RM978 millions are allocated for 5 regional corridors

- Tax deductions on Sukuk Wakala will be given for 3 years from 2012

- FELDA GVH will be listed on Bursa Malaysia by mid-2012

- A RM2 billions shariah-compliant SME Financing Fund will be established in 2012

- A RM100 millions SME Revitalisation Fund offering loans for entrepreneurs will be available from Jan 2012

- Full exemption of import duty and excise duty on hybrid cars and electric cars to be given until 2013

- Langkawi Five Year Tourism Development Master Plan will be launched (allocation: RM420 millions

- RPGT: 10%(<2 years), 5%(2-5 years), 0% (>5 years)

- RM100 millions are allocated to promote innovation including 1Malaysia Award (C1PTA) for innovative student inventions

- Commercialisation Innovation Fund of RM500 millins will be established to enable SMEs to commercialise research products

- RM50.2 billions will be allocated to the education sector while RM1 billion will be provided for the construction, improvement and maintenance of schools

- Payments for primary and secondary education are abolished

- Incentives, including an Investment Tax Allowance, will be given to private schools registered with the Ministry of Education

- Double deduction: scholarships

- Programme to supply clean water to the rural community in Sabah to be expanded

- RM400 millions to be provided to upgrade the water supply infrastructure in selected FELDA areas

- Greater access to bank services will be provided in rural areas

- RM90 millions will be provided to the Orang Asli for basic necessities

- Loan totaling RM100 millions will be provided for public buses and school buses

- Salaries are increased in new remuneration scheme for civil servants for "performance driven" service

- Compulsory retirement age increases from 58 to 60 years old

- Civil servants will be offered tuition fee assistance for part-time studies (including master and doctoral)

- RM200 millions are provided to PDRM for enhancement

- RM3,000 will be given to ex-members of the special constable and auxiliary police as well as widows and widowers

- The National Agro-Food Policy 2011-2020 will be launched, RM1.1 billion is allocated for the development of the agriculture sector

- Subsidies, incentives and assistance up to RM33.2 billions will be allocated: sugar (20 sen), flour (55 sen), cooking oil (RM1.80)

- Assistance is provided by KAR1SMA to poor senior citizens and children and disabled people

- Limit of house prices under The My First Home Scheme will be increased from a maximum of RM220,000 to RM400,000

- Program Perumahan Rakyat will be continued to be implemented by building 75,000 units of affordable houses

- SPNB will build 10,000 houses with cost of RM65 thousands and it will be sold at RM45 thousands only

- 81 rural health clinics will be upgraded and 50 new 1Malaysia clinics will be launched

- Hospital Kuala Lumpur will be upgraded to be the country’s premier hospital

- Healthcare allocation: RM15 billions for operating expenditure, RM1.8 billions development expenditure

- Tax exemptions on taxi purchases

- SARA 1Malaysia: benefits to 100,000 households with income below RM3,000 per month

- Social assistance centre known as Anjung Singgah will be established to assist the homeless

- RM10 millions will be allocated for women to develop leadership and managerial skills

- Free Human Papilloma Virus immunisation will be provided nationwide

- MyCreative Venture Capital will be established with an initial fund of RM200 millions

- RM200 millions will be allocated to train youths who have left school (SAY 1Malaysia programme)

- RM15 millions will be allocated to build 150 futsal courts

- Outpatient registration fees for senior citizens aged 60 years and above will be exempted in Government hospitals and health clinics

- Employer's contribution for EPF is increased to 13% for employees with monthly salary RM5,000 and below

- Personal tax relief: RM3,000 relief on contribution to a private retirement scheme and insurance annuity for 10 years

- One-off assistance of RM500 will be provided to households with monthly income of RM3,000 and below

- Book voucher worth RM200 will be given to all Malaysian students (both private and public institutions of higher learning)

- Additional bonus of half-month salary will be given to civil servants and RM500 for pensioners

Budget speeches are available at Inland Revenue Board's website:
- English version
- Malay version