Rule limiting spending digital wallet handout to 4km radius to be scrapped
The rule limiting the spending of the 10,000-baht handout under the digital wallet scheme to a four-kilometre radius of the registrant’s home address was likely to be amended, Deputy Finance Minister Julapun Amornvivat said on Wednesday.
He said the government subcommittee responsible for the digital wallet scheme is considering making the revision.
Julapun said after chairing the subcommittee meeting on Wednesday that many details were yet to be finalised, but the 4km radius rule would certainly be revised.
“We are seeing if the spending could be allowed within the district or subdistrict where the registrant lives, regardless of the distance from their home,” he said, adding that the rule and other spending details should be finalised after another meeting on Thursday.
The digital wallet scheme was one of the main campaign promises of the Pheu Thai Party during the May general election. In a bid to boost domestic consumption and the local economy, the government coalition leader has promised to give 10,000 baht to all Thais 16 years old and above, using blockchain-based digital wallets for them to spend within a 4-kilometre radius of their homes.
Several parties have critisised the campaign regarding its practicality and questioned its long-term impact on the economy.
People in the provinces, for instance, have complained that their homes are surrounded by forests or plantations, with no shops in their vicinity. This concern has reportedly prompted the subcommittee to expand the area for spending.
Economists, meanwhile, have warned that the this 560-billion-baht scheme would fail to sustainably boost the Thai economy and would only end up creating a burden for the public from the interest on loans secured to fund the project.
Julapun said the subcommittee would gather all the details that had been agreed so far to present to the Finance Ministry’s meeting next Tuesday (October 24), which would be chaired by Prime Minister and Finance Minister Srettha Thavisin.
