IMPORTANT Highlights On Education, Employ-ability, and Entrepreneurship with Malaysia Budget 2017

Below are the main highlights of Malaysia Budget 2017 for students (preschool, primary, secondary and tertiary), teachers (civil servants) and fresh graduates (especially those interested in becoming an entrepreneur or to venture into the digital economy) in Malaysia.

 

student-ringgit

GENERATE INCOME FOR THE RAKYAT

  • Expand MySuria Programme for 1,600 houses nationwide (RM 45 million)
  • Expand Mobilepreneur Programme for 3,000 participants (RM 30 million)
  • Implement Agropreneur Programme for 3,000 young entrepreneurs (RM 100 million)
  • Intensify eUsahawan dan eRezeki programs for 300,000 participants (RM 100 million)
  • Encourage B 40 (BR1M recipients) to generate additional income by becoming ride-sharing drivers such as UBER – For those who do not own vehicles, down payment could be paid using BR1M & rebate up to RM 4,000 for the purchase of Proton Iriz


1 MALAYSIA PEOPLE’S AID (BR1M) (RM 6.8 billion)

  • Single Individual: RM2,000 and below: RM450 (2016: RM400)


ENHANCE TVET PROGRAMMES (RM 4.6 billion)

  • Transform 9 IPG campus into Polytechnics & Vocational Colleges, including one for TVET trainers (RM 400 million)
  • Upgrade teaching equipment in TVET institutions (RM 270 million)
  • Skills Development Fund Corporation (RM 360 million)
  • Extend the double tax deduction for Structured Internship Programme until year of assessment 2019 for students pursuing degree, diploma as well as Level 3 and above, under TVET programs
  • Provide matching grants to TVET institutions which successfully obtained assistance in the form of equipment from industries

human-capital-malaysia


HUMAN CAPITAL

  • Enhance graduate employability – Extend 1 Malaysia Training Scheme (SL1M) for 20, 000 graduates (RM 50 million)
  • Establish Malaysian Bureau of Labour Statistics


LIFESTYLE TAX RELIEF

  • Tax relief up to RM 2,500 yearly effective year of assessment 2017 (combined as lifestyle tax reliefs) for the purchase of :
    • Reading materials, computers, sports equipment, printed newspapers, Smartphones & tablets, Internet subscription and gymnasium membership fees


NATIONAL BLUE OCEAN STRATEGY (NBOS) (RM 140 million)

  • Provide Job Centres in every UTC for job matching
  • Implement NBOS initiatives: 1Malaysia English, Coding in schools, Volunteering for International Professional, Global Entrepreneurship Community 2

 

digital-economy


DIGITAL ECONOMY

  • MDEC to implement digital programs such as e-commerce ecosystem, Digital Maker Movement (RM162 million)
  • The introduction of new location categories as Malaysia Digital Hub to enjoy the benefits of MSC Bill of Guarantees, including tax incentives as well as an introduction of Digital Free Zones.
  • Offer a more competitive price for broadbands (higher speed at the same price)
  • Increase ethernet broadband speed in public universities to maximum 100 Gbps
  • Widen the coverage and enhance the quality of broadband up to 20 Mbps throughout the nation (RM1 billion)


ENTREPRENEURSHIP

  • Declare 2017 as Startup & SME Promotion Year.
  • Implement programs under SME Master Plan (RM75 million)
  • Extend all schemes under Syarikat Jaminan Pembiayaan Perniagaan (SJPP) to 2025
  • Provide 2% rebate on interest rates charged to exports – oriented SME borrowers under SJPP scheme (limited to a total accumulated funding of RM1 billion)
  • WCGS fund for startups (RM200 million)
  • Introduce a new pass category, namely Foreign Knowledge Tech Entrepreneurs to encourage investment in high-technology startups.
  • To invigorate creative industries & film production (RM80 million)
    • Film in Malaysia Incentive, Arts and Culture Revitalisation Agenda, FINAS Content Creation Hub in Santubong Sarawak, and Kota Kinabalu, Sabah, Artist Committee

 

early-childhood-edu


EARLY CHILDHOOD AND PRESCHOOL EDUCATION

  • Continue the Additional Food Assistance and Per Capita Grant to children in TABIKA and TASKA (RM 140 million)
  • Improve daily nutritional food packages to include 250ml of milk, raisins, and eggs benefitting nearly 280,000 children (RM 60 million)
  • Improve access to preschool education in government schools for free benefitting 200,000 children (RM 132 million)


PRIMARY AND SECONDARY EDUCATION

  • Reconstruct 120 destitute schools (30 in Sabah & 30 in Sarawak) using Industrial Building System (IBS) and upgrade 1,800 science laboratories (RM 570 million)
  • Complete construction of 227 schools, including 8 new schools (RM 478 million)
  • Strengthen English Language proficiency programs such as Cambridge English, Dual Language and Highly Immersive programs (RM 90 million)
  • MCMC to provide tablets to 430,000 teachers to lessen their workload (RM 340 million)
  • Schooling Assistance Programme of RM 100 each to students from families earning below RM 3 , 000 benefitting 3 . 5 million students ( RM 350 million )
  • Provide Hostel Meal Assistance Programme to 365,000 students (RM 1.1 billion)
  • Continue 1 Malaysia Supplementary Food Programme for primary school students (RM 300 million)
  • Provide Additional Assistance for Payment of School Fees ; Textbook Assistance and Per capita Grant Assistance (RM 1.1 billion)
  • Provide matching grants of up to RM 50 for accumulated savings in SSPN-i to Year 1 students in fully – assisted Government schools.
  • Provide Special Needs Student Allowance of RM 150 monthly to 67,000 students & replace buses or coasters for 21 special education schools (RM 107 million)
  • Maintenance of National Schools, National – type Chinese Schools, National-type Tamil Schools, Religious Schools, Fully-residential schools, Government-aided religious schools, registered Sekolah Pondok and MRSM (RM 600 million)


EMPOWERING HIGHER EDUCATION

    • Provide allocation for 20 public universities (RM7.4 billion), among others:
      • 4 university hospitals (RM 1.4 billion)
      • Empower 5 research universities (RM 300 million)
      • Research fund for higher education institutions (RM 100 million)
    • Replace book vouchers with student debit cards worth RM250 to purchase books, stationeries, computer devices and internet access benefitting 1.3 million students (RM300 million)
    • Continue providing scholarships (RM4.3 billion) through Public Service Department (RM1.6 million), MARA (RM2 billion), MoHE (RM250 million), MoH (RM208 million), MoE (RM194 million), MoHR (RM28 million), and KBS (RM21 million).
Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) Discount on Repayment


CHINESE AND INDIAN COMMUNITY

  • Loans for Chinese Communities through:
    • KOJADI (RM 50 million)
    • Malaysian Chinese Women Entrepreneurs Foundation (RM 20 million)
    • 1 Malaysia Hawkers and Petty Traders Foundation (RM 20 million)
  • Programmes to increase capacity and income of Indians (RM50 million)
  • Business financing program, SPUMI through TEKUN (RM50 million)
  • Programmes for financing Indian entrepreneurs (RM100 million)
  • Preschool program in National – typed Tamil Schools involving 50 schools (RM10 million)


EMPOWERING ECONOMY OF BUMIPUTERA

  • To enhance the viability of entrepreneurs and to expand their business capacity through SME Bank (RM 100 million)
  • To implement entrepreneurship program under AIM (RM 100 million)
  • To assist TEKUN small – scaled entrepreneurs , including a new scheme, TEMANITA (RM 300 million)
  • Entrepreneurship and Business Premises Financing Programme through Perbadanan Usahawan Nasional Berhad (PUNB) (RM 200 million)
  • MARA entrepreneurship programs such as halal industry enterprises, youth entrepreneurship development & training (RM 120 million)
  • TERAJU facilitation fund (RM 500 million)
  • Exports Fund under TERAJU (RM 100 million)
  • Peneraju Skil dan Iltizam, Peneraju Profesional as well as Peneraju Tunas through Bumiputera Education Steering Foundation (RM 100 million)


PRESCHOOL AND PERMATA DEVELOPMENT PROGRAMMES

  • To increase the allowance for KEMAS assistants to RM500, benefitting 11,000 assistants.
  • Establish the Top STEM Talents Excellence Centre at Academy of Sciences Malaysia.
  • Transform IPG Raja Melewar Campus, Negeri Sembilan and Tuanku Bainun Campus, Pulau Pinang to PERMATA Pintar and Berbakat Centre.


APPRECIATE CIVIL SERVANTS

  • Fully Paid Study Leave with Scholarship to the Support Group.
  • Quarantine Leave up to five days for civil servants whose children are infected with infectious diseases and required to be quarantined.
  • Extend the existing computer loan facility to include smartphones, with a limit of RM5,000 for every 3 years.
  • Increase the limit of motorcycle loan facility up to RM10,000.
  • Increase the public servants’ housing loans eligibility to RM200,000 and RM750,000.
  • Complete 30,000 units of 1Malaysia Civil Servants Housing (PPA1M) with selling price between RM90,000 – RM300,000.
  • Extend the contract of service and contract for service officers for one year.
  • Introduce grade 56 for medical and dental specialists.
  • Expedite the appointment of 2,600 medical doctors, dentists and pharmacists latest by December 2016.
  • A special assistance of RM500 to all civil servants and RM250 to government retirees.

 

Source: Malaysia Annual Budget 2017 / Bajet Malaysia 2017

YAB Dato’ Sri Mohd Najib Tun Haji Abdul Razak, Prime Minister and Minister of Finance table Budget 2017 on the 21 October 2016 in Parliament.
pdf: The 2017 Malaysia Budget Speech / Ucapan Bajet Malaysia 2017
pdf: List Of Appendices / Senarai Lampiran
pdf: Touchpoints 2017 Malaysia Budget / Touchpoints Bajet Malaysia 2017

SUBSCRIBE NOW TO GET UPDATES FROM US !!!

Related Post

Author: Editor

Share This Post On
%d bloggers like this: