Starting tomorrow, individuals, small-scale farmers, and smallholder farmers from the B40 and M40 groups in Peninsular Malaysia will have the opportunity to apply for cash assistance under the MADANI Subsidy Assistance or BUDI MADANI. This initiative, announced by the Finance Ministry, aims to provide financial support to those in need, particularly in light of the targeted diesel subsidy implementation.
Under the individual category, private diesel vehicle owners can submit their applications to receive assistance. To be eligible, the individual must be a Malaysian citizen who owns a private diesel vehicle under 10 years of age and registered with the Road Transport Department (JPJ). Luxury vehicles are excluded from this assistance, and the individual’s annual income must be RM100,000 or below. Applications will be cross-checked with the Inland Revenue Board (LHDN) data to ensure that only eligible recipients receive the assistance.
For small-scale farmers and smallholders, applications can be submitted under the agri-commodity category. Applicants must be registered as small-scale farmers or commodity farmers with the relevant agency under the Ministry of Agriculture and Food Security or the Ministry of Plantation and Commodities. Their annual sales should fall between RM50,000 and RM300,000 to qualify for the assistance.
The application process for BUDI MADANI can be done online at https://budimadani.gov.my, which is open throughout the year. Approved applicants will receive their first cash aid by the middle of June for applications approved before June 3, 2024. Subsequent assistance will be distributed monthly to recipients. Those without bank accounts can claim their cash aid at any branch of Bank Simpanan Nasional.
The Finance Ministry emphasized that the BUDI MADANI initiative complements the government’s efforts in implementing the targeted diesel subsidy through the MySubsidi Diesel system. This system has issued nearly 90,000 fleet cards to companies in the land public transportation sector and land freight transportation sector, allowing eligible logistic companies to purchase subsidized diesel at petrol stations.
Finance Minister II Datuk Seri Amir Hamzah Azizan highlighted the importance of the BUDI MADANI program in expanding cash assistance to individuals and small-scale farmers. This initiative is part of the fiscal reform measures under the MADANI Economy framework, aimed at enhancing government financial sustainability and Malaysia’s competitiveness.
In conclusion, the BUDI MADANI assistance program is a crucial step towards supporting individuals and small-scale farmers in Peninsular Malaysia. By providing targeted cash aid, the government aims to alleviate financial burdens and ensure the efficient implementation of the targeted diesel subsidy. This initiative reflects the government’s commitment to building a sustainable economy and safeguarding the well-being of its citizens.