Cabinet allots B141bn for rice, rubber

The cabinet on Tuesday approved a combined 141 billion baht to support an income guarantee scheme for rice and rubber farmers in the 2021-22 season.

According to government spokesman Thanakorn Wangboonkongchana, the scheme comprises an additional 76.1 billion baht for the rice price guarantee scheme, 55 billion slated to stabilise rice prices, and 10 billion for the rubber price guarantee scheme.

On Oct 25 this year, the cabinet already approved an 18-billion-baht budget to finance the rice price guarantee scheme.

Of the additional 76.1 billion baht, 74.6 billion is to pay rice farmers and 1.51 billion to compensate expenses for the state-owned Bank for Agriculture and Agricultural Cooperatives.

Mr Thanakorn said the cabinet also approved 54.9 billion baht to subsidise rice farmers’ management costs and for rice quality upgrades.

Regarding rubber, the scheme covering 19.2 million rai of rubber plantations for 1.88 million farmers runs from October 2021 to March 2022.

Commerce Minister Jurin Laksanawisit said the government may have to provide additional funding from the central budget for fiscal 2023 to support the income guarantee scheme if needed.

Last Wednesday, the State Monetary and Fiscal Policy Committee approved a further 155 billion baht to support an income guarantee scheme for farmers. To facilitate such funding, the committee agreed to raise the ceiling of the state borrowing framework according to Section 28 of the State Fiscal and Financial Discipline Act — currently capped at 30% of the annual expenditure budget — to 35%.

Section 28 allows the government to borrow funds from state-owned financial institutions for public expenditure to elevate the public’s quality of life or rehabilitate the economy. This is regarded as a semi-fiscal policy. Previous governments have made use of this borrowing channel to finance several projects, especially assistance schemes for farmers.

The cabinet also said the fiscal and monetary situation remains manageable under the fiscal sustainability framework. As of Sept 30, Thailand’s public debt was equivalent to 58.2% of the GDP.

News Related

OTHER NEWS

Flash deliverers are disappointed with Amsterdam's decision to ban new locations

Delivery services are surprised at the decision of the municipality of Amsterdam to no longer allow new ‘dark stores’ for flash delivery. Because flash delivery services promise to deliver groceries ... Read more »

Covid-19 Omicron outbreak: Auckland Airport plans for 25 per cent of staff off work

Auckland Airport is planning around losing up to a quarter of its staff during the Omicron outbreak. The airport says it was working on a scenario allowing it to remain ... Read more »

Home Depot just picked a new CEO

A Home Depot store is seen in Washington, DC, on August 18, 2020.NICHOLAS KAMM | AFP | Getty Images Home Depot said Thursday that chief operating officer Ted Decker will ... Read more »

Scarcity of chocolate Easter bunnies threatens in Germany

Photo: ANP Delivery problems in the German confectionery industry could affect the production of chocolate Easter bunnies. The German trade association BDSI has warned about this. There is no fear ... Read more »

EXPLAINER: Who must follow Biden's vaccine mandates?

The Associated PressFILE – New York City municipal workers protest against the coming COVID-19 vaccine mandate for city workers, Thursday, Oct. 28, 2021, outside the Gracie Mansion Conservancy in New ... Read more »

ServiceNow, Levi Strauss rise; Tesla, Intel fall

NEW YORK — Stocks that traded heavily or had substantial price changes Thursday: Tesla Inc., down $108.31 to $829.10. The electric vehicle maker said a computer chip shortage will stop ... Read more »

Padel is not only popular among Randstad athletes. Investors are also jumping on the racket sport

Pim van Zuilekom calls them two hobbies that got out of hand. The travel organization he set up a few years ago, focused on training camps and trips to the ... Read more »

Supply chain bottlenecks take a bite out of McDonald's profits

The fast-food chain saw global consumers spend $112bn on burgers, fries and other menu offerings last year but like other businesses has been grappling with the impact of losgistics hold-ups and rising COVID-19 case numbers. Read more »

Federal student loan forgiveness program fulfills an elusive promise: To erase debts

Over 70,000 student borrowers have qualified for debt forgiveness since the Department of Education overhauled the program last fall. But another deadline is looming. Read more »

LVMH CEO Bernard Arnault says 'we have to be wary of bubbles' with the metaverse

French luxury group LVMH Chairman and Chief Executive Officer Bernard ArnaultEric Piermont | AFP | Getty Images LVMH Chief Executive Bernard Arnault said Thursday that the metaverse could become a ... Read more »

Bad stock market climate stops WeTransfer, possible later attempt or other options

As effortless as WeTransfer transfers gigabytes, the company’s own transition is so difficult. On Thursday morning, the Dutch tech company pulled the plug at the very last minute from an ... Read more »

Bloomberg: controversial crypto project Facebook finds new owner

Photo: ANP Financial services firm Silvergate Capital is reportedly continuing with Facebook’s former crypto project. Bloomberg news agency reports on the basis of insiders that the activities are being sold ... Read more »

GM CEO Mary Barra takes first autonomous car ride with Cruise: 'It's just surreal'

“It's just surreal,” General Motors CEO Mary Barra says while testing one of the company's driverless cars in San Francisco, calling it a highlight of her career. Barra took the ... Read more »

'Beyond our wildest dreams': Ruth Bader Ginsburg book nets $100,000 in blockbuster auction of late Supreme Court justice's library

Supreme Court Justice Ruth Bader Ginsburg participates in a discussion during the Library of Congress National Book Festival at the Walter E. Washington Convention Center on Saturday, August 31, 2019.Tom ... Read more »

Tesla drops 10% as investors digest new vehicle delays

Tesla CEO Elon Musk unveils the Cybertruck at the TeslaDesign Studio in Hawthorne, Calif. The cracked window glass occurred during a demonstration on the strength of the glass.Robert Hanashiro | ... Read more »

Johnson takes break from survival battle to host tech company bosses

Boris Johnson will hold talks with tech bosses next week about London's virtues as a listing destination after a bumpy ride for unicorns such as THG and Deliveroo, Sky News learns. Read more »

Why stock markets can't rely on US or China policymakers to rescue them

If you are a global equity investor, should you be more concerned about President Xi Jinping or his US counterpart Joe Biden? As recently as last summer, it would have ... Read more »

Alrosa expects diamond demand to grow in 2022 owing to more US weddings — Deputy CEO

About half the consumption on the global diamond market is associated with weddings and engagements, Alexey Filippovsky said Read more »

India, Central Asian states to prepare roadmap to develop trade — declaration

The leaders noted that the current level of trade and investments between India and Central Asian countries was far from realizing its true potential and stressed on the importance of making concerted efforts to boost trade and investment Read more »

Parent company Louis Vuitton breaks records with fashion and jewelry

Photo: ANP The parent company of fashion brands such as Christian Dior and Louis Vuitton had a record year last year. LVMH, which also owns beverage brands such as champagne ... Read more »

Kansas City Chiefs fans donate over $300,000 to Buffalo children's hospital following playoff win over Bills

Buffalo Bills quarterback Josh Allen (17) runs the ball during the AFC Divisional Round playoff game against the Kansas City Chiefs on January 23rd, 2022 at Arrowhead Stadium in Kansas ... Read more »

Dow surges on strong GDP growth, shrinking unemployment claims

Wall Street reacted positively to strong economic data showing that GDP grew by 6.9% in the fourth quarter of 2021. SOPA Images/LightRocket via Gett Stocks rose Thursday on the strength ... Read more »

Hairdressers: the vast majority of lockdown damage not reimbursed by the government

Photo: ANP Dutch hairdressers have suffered 900 million euros in damage during the three lockdowns that the Netherlands has experienced during the corona pandemic, industry organization ANKO has calculated. They ... Read more »

Socios boss defends fan tokens business model

Supporters spent $300m last year on tokens issued by 120 clubs in the UK, Europe and the Americas including five in the Premier League. Read more »

Kim Jones back on runway as Fendi channels celestial Rome

The Associated PressMaria Carla Boscono wears a creation for the Fendi Spring-Summer 2022 Haute Couture fashion collection, in Paris, Thursday, Jan. 27, 2022. (AP Photo/Thibault Camus) PARIS — The name ... Read more »

Biotechnologist Galapagos worth fifth more after news about CEO

Photo: ANP Galapagos was the big winner on the stock exchange in Amsterdam on Thursday. Where the most important European stock market indicators traded with small results, Galapagos stood out ... Read more »

LIC to list on bourses by March 31: DIPAM Secy

Representative image The government will list the country’s largest insurer LIC on the stock exchanges by March-end, a top official said on Thursday. The draft papers for LIC’s initial public ... Read more »

Last exit in Brooklyn: Funeral home looks to modernize the death care industry

But how we say our final goodbyes to our loved ones was changing even before the pandemic, experts say Read more »

COVID-19 update | Maharashtra reports 25,425 cases, over 10,000 fewer than day before

Representative image Maharashtra on Thursday recorded 25,425 new coronavirus cases, a drop of more than 10,000 compared to the previous day, and 42 deaths, the state health officials said. The ... Read more »

Buy Sharda Cropchem; target of Rs 600: Anand Rathi

Anand Rathi’s research report on Sharda Cropchem We are positive about Sharda’s future performance, considering its focus on registration, rising share of high margin products and deeper penetration in markets. ... Read more »

Fino Payments Bank Q3 net profit doubles to Rs 14 crore

Representative image Fino Payments Bank (Fino Bank) on Thursday reported a 116 per cent jump in net profit at Rs 14.1 crore for the quarter ended December 2021 on the ... Read more »

Buy ICICI Bank; target of Rs 968: Arihant Capital

Arihant Capital’s research report on ICICI Bank ICICI Bank reported another quarter of stellar performance on most counts with improvement in asset quality. Profit for the quarter grew strongly by ... Read more »

Accumulate SBI Cards and Payment Services; target of Rs 1162: Prabhudas Lilladher

Prabhudas Lilladher’s research report on SBI Cards and Payment Services SBICARD’s Q3FY22 earnings (PAT at Rs 3.8bn up 12%QoQ/84%YoY but below ests) exhibited mixed earnings show as seasonality played out ... Read more »

Buy Gokaldas Exports; target of Rs 502: Arihant Capital

Arihant Capital’s research report on Gokaldas Exports Gokaldas Exports Q3FY22 Consolidated Revenue grew 17% QoQ to INR 521 Cr (+96% YoY). Q3FY22 EBITDA grew 20% QoQ to INR 56 Cr ... Read more »

Evening out gift for all employees Ahold

The supermarket group wants to kill two birds with one stone: the employees receive a token of appreciation after a period in which they had to work extra hard, and ... Read more »

Hold Ramco Cements; target of Rs 1002: Arihant Capital

Arihant Capital’s research report on Ramco Cements Ramco Cement Limited reported weak set of numbers in Q3FY22 Revenue from Operations grew by 15.7% YoY, and 3.8% QoQ to INR 15491 ... Read more »

Buy Hindustan Unilever; target of Rs 2371: Anand Rathi

Anand Rathi’s research report on Hindustan Unilever Hindustan Unilever Limited (HUVR) has reported a growth of 10.3% in its revenues at Rs.1,34,390 million in Q3-FY22 as against Rs.1,21,810 million in ... Read more »

Accumulate D P Abhushan; target of Rs 446: Arihant Capital

Arihant Capital’s research report on D P Abhushan D P Abhushan (DPAL) during its Q3FY22 reported another quarter of strong topline as well as bottom-line growth driven by festive and ... Read more »

Hold Bandhan Bank; target of Rs 323: Arihant Capital

Arihant Capital’s research report on Bandhan Bank After reporting whopping loss of INR 3,009 cr in Q2FY22, Bandhan Bank has posted PAT of INR 859 cr in Q3FY22 which was ... Read more »

Buy SBI Life Insurance; target of Rs 1504: Anand Rathi

Anand Rathi’s research report on SBI Life Insurance SBI Life’s strong growth momentum led to strengthening its leading position. The company maintained decent VNB margins in a stellar quarter. Persistency ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic