Budget 2011...my thoughts....

Below are my thoughts on the recently tabled budget 2011 by our dearest PM & top CEO for our beloved country....

The budget was themed 'Trasformation towards a developed and High Income Nation'. It was based/guided by four main strategies:

1. Reinvigorating private investment
It seems that the govt seeks the private sector to boost the country's economy. According to some reports, the govt plans to promote investments in the services sector such as financial services, tourism, health and business in general.

2. Enhancing the quality of life
In its effort to improving the life of Malaysians as a whole, again, the govt will again work with the private sector. Areas such as empowerment of women, housing programmes, public transportation as well as green technology will be focussed upon.

3. Intensifying human capital development
Education is a priority in creating a skilled and knowledgeable rakyat. Every malaysian deserve an education. Emphasizing on the quality of the lecturers, teachers should be prioritize. On the other hand, it's about time we should have a minimum wage policy in the country.

4. Strengthening Public Sector Delivery
Apart from the delivery system of the imigration department, there's really nothing to shout about the govt's delivery system. It'll be difficult but it can be done IF training & development are done and communicated properly throughout the 2-million-odd govt servants.

Now...let's see the budget highlights...

1. RM40bil for MRT project to start next year.
It's about time. Our transportation situation in KL need fast solution as more & more people has relocated to the capital.

2. Warisan Merdeka tower. RM5b.
To be honest, this will boost the construction industry. However, I just wonder, why do we need the tower after all. We could have use that RM5billion for education, training & development for our rakyat.

3. Service Tax - Increase from 5%-6%?
I'm just wondering, why are we paying the service tax for when the services (at some areas) are so bad?

4. Sales tax be exempted on all types of mobile phones?
Does this mean that everyone will start queing up at Maxis to get the latest Iphone for RM500?? Heheheh

5. Govt Servant to get RM500 allowance.
Yey!!! What about those govt servants who clocks in at 9am, then went down for a cup of tea at 11am, then lunch at 1pm, comes back at half past 2. Went down again at 4pm and clocks out at 5pm? He gets RM500 as well kah?? What happened to the KPI?

6. No downpayment for anyone earns below RM3000 if he or she is a first time house buyer. It means...100% home loan for houses priced below RM220k and the bank gets richer!! Wooohooooo. For govt servant, the maximum loan eligibility has increased from RM360k to RM450k...wooohoooo again!!!!

7. Err.....what about the issue of raising medical costs in the country? Nothing kah?

8. RM857million to local companies to invest in high value added activities..
That's a lot of money for investing in getting 'high value added activities' eh?

9. NO toll price increased for the next 5 years.
Is that a good news or bad news? They should lower the price instead lah!!

10. BUdget deficit again. What does that say in lay-man's term? It means, the expenditure spent is more then the revenue earned. Just like a huge company operating at a loss. Barely survived.....hehehe

11. Import duties abolished.......so things will be a bit cheaper lah. Eh...betul ka?

12. RM411million for R&D and commercialisation activities.
Errrr.... zzzzzzzzzzzzzzzzzz

13. Beer & Stout excise duty stays. SO it means, some of us can keep on drinking till the cows comes home.....heheh

14. The Malaysian Technology Development Corp will be provided a start up fund of RM100mil. Hrmmm.................that's a load of cash ehh....just wondering who will get the share of RM100million....


Anyways, those are my thoughts and there are still areas that I need to read again n again to have a better understanding of the budget.

In short, I personally think the budget won't have any big impact on a normal person like myself. I just hope that our economy as a whole stabilizes, inflation & interest rates kept at minimum, jobs available for everyone, living cost kept at a reasonable rate, equal opportunities to everyone so that all of us can enjoy a decent and happy life.

Having said that, I believe, we can also have our very own individual budgets. At least, by doing that, we know and we can plan to do with what we have in our 'pockets'. The most important thing is..........we should start live within our means.....