Parliament, “Chulaphan”, Deputy Minister of Finance, explains the digital wallet budget to the Senate, confirms that the government needs to borrow to stimulate the economy, denies using digital wallets to gain electoral benefits, prepares to open registration for people without smartphones on September 16.
Mr. Chulaphan Amornvivat, Deputy Minister of Finance, explained the observations and doubts of the senators in considering the additional 122 billion baht budget bill for fiscal year 2024 to the Senate meeting after the House of Representatives approved it. He emphasized that the government confirmed that the budget was in accordance with the legal framework and fiscal discipline, and admitted that the government needed to borrow more debt to add money to the economic system.
Mr. Chulaphan explained that the process of moving forward with the digital wallet project is to stimulate the economy in the short term. It is to add money to create circulation, which is digital money, not crypto as reported in t
he news. 10,000 baht is similar to a coupon, which can be exchanged for products equal to only 10,000 baht, causing circulation to change hands, resulting in continuous effects in the medium and long term. In addition, this mechanism is laying the foundation for the digital economy, increasing the country’s capabilities in the long term, allowing Thai people to prepare for the digital economy in the future. It is also a collection of data for the government to manage in the future, which will be able to trace back whether money has been used incorrectly, which will be beneficial to the government in solving problems at the right point.
As for the concern that many people have about the concentration in large stores, Mr. Chulaphan explained that street vendors can also register. Vendors who are not registered in the tax system can still be stores, but they cannot cash out money. They can still use digital money to circulate in the system, such as to buy capital goods and production factors.
‘Today, 25 millio
n people have registered, which is not an indicator of the success of the government or the success of the project. The indicator of the success of the project is the mechanism that has been implemented. Will it be able to stimulate the economy, create mutual learning, and create infrastructure for the digital economy? We will have to measure it after the project has been successfully implemented.
However, the 25 million people who have expressed their intention does not mean that everyone will receive the rights. We have to check with the government database to ensure that they are within the rights framework as specified in the project,’ said Mr. Chulaphan.
As for the group of people without smartphones that many people are concerned about, Mr. Chulaphan said that from September 16 to October 15, registration will be open for the group without smartphones, which includes the group using old-fashioned analog mobile phones, which only have buttons, and the group that does not have a mobile phone at all. The
refore, they must approach government representatives and government agencies to register through the system. The mechanism for using it is to use an ID card to make a purchase, but there are more limitations, which is that you cannot open your mobile phone and scan to pay. You must use your ID card to show it. The store must open the government application and digital wallet to check if the ID card is correct. And there is a record of every exchange to prevent fraud. This group confirms that it is not abandoned, but will register after the group using smartphones.
There are also groups that cannot travel, such as bedridden patients, whose mechanisms of use will be different, which will be announced periodically to prevent confusion.
Many people think that it is quite difficult to set the usage. Why not make it cash? Mr. Chulaphan said that this time it is a new mechanism to add money to the economic system. If paid in cash, there is a chance that money will be kept in the pocket and not used or only some w
ill be spent. Therefore, the money that is invested will have a lower effect on the circulation in the economic system. Therefore, it must be changed to use digital money. It can be confirmed that the 500 billion baht that is invested will not disappear. However, if the store wants to change to cash, it can be done in the second round and the cash will still circulate in the system. It has a long-term effect. And this mechanism is not just to stimulate the economy, but to lay a long-term digital foundation. He also emphasized that the government’s application is definitely safe.
Mr. Chulaphan also explained that prohibited goods, such as those that cannot be used to fill up gas tanks or pay for tuition fees, the criteria that were thought up and set were that we wanted to create an exchange of goods that would result in production and employment within the country. This is an important issue. If imported goods such as mobile phones are allowed, money will flow abroad, and there will be no circulation or prod
uction of employment within the country. As for the items that cannot be used to pay for gas, tuition fees, or electricity, this is because the government has mechanisms to help and subsidize these matters all the time. Furthermore, if the money is paid and goes to the government, it will not circulate further.
Mr. Chulaphan explained the case where a member of the Senate raised questions about the government’s digital wallet project for political gain, confirming that this project is to stimulate the economy and lay the foundation for the digital economy, and is not related to the past elections. It is a social contract that the government announced to the parliament, so it must move forward. It is not a political party because all parties are in the same coalition government. Therefore, it is not a policy of any one party. There are also changes to policy details according to the concerns of society, which the government is ready to listen to.
Source: Thai News Agency