Budget 2021 reflects govt commitment to support B40, M40 - MIDF research

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Budget 2021 reflects the government’s commitment to providing support to the B40 group impacted by the Covid-19 pandemic, opined MIDF Research.In a statement today, it acknowledged the measures including the expansion of “Program Baucar Perlindungan Tenang”, assistance to children of poor families, and the improvement of Bantuan Sara Hidup (BSH) to Bantuan Prihatin Rakyat (BPR).“Besides this, the government is also providing initiatives to ease the burden of the M40 group, such as reduction of income tax for a taxable income range of RM50,001 to RM70,000, reduction of contribution rate for the Employees Provident Fund (EPF), and allowing withdrawal of EPF Account 1 for targeted groups.“Steps taken to support business continuity will ensure that businesses especially small and medium enterprises (SMEs) will not only be able to sustain but thrive under present economic condition…