Kuala Lumpur:The recently tabled Budget 2027 by Prime Minister Datuk Seri Anwar Ibrahim underscores the government's dedication to addressing the concerns of its citizens, particularly focusing on the middle-income group, known as M40.
According to BERNAMA News Agency, Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi highlighted measures in the budget designed to alleviate the financial pressures on M40 households, which are strained by significant expenditure commitments. An increase in the individual tax relief limit from RM9,000 to RM12,000, the first adjustment since 2010, was announced as a direct benefit to this group.
Additionally, the budget introduces a rise in the minimum wage to RM2,000, effective June 2027. This new rate exempts micro, small, and medium enterprises (MSMEs) with annual sales below RM50 million, allowing them time to adapt their business models. Ahmad Zahid noted that this wage adjustment is expected to be well-received by graduates and skilled workers due to the offer of premium wages.
The budget also emphasizes enhancing national exports by boosting the development of MSMEs and strengthening local entrepreneurs' capabilities. This initiative aligns with Ahmad Zahid's role as chairman of the Cabinet Committee on Entrepreneurship Development, aiming to foster more competitive entrepreneurs.
The Rural and Regional Development Ministry (KKDW) is set to receive an allocation of RM12.68 billion for the upcoming year, marking an increase of RM281.08 million or 2.27% from the current year. Ahmad Zahid expressed gratitude for this allocation, noting that existing programs and high-impact initiatives, particularly those benefiting the Orang Asli community, would be prioritized.
Furthermore, technical and vocational education and training (TVET) will receive support to enhance the production of highly skilled workers tailored to industry demands. The TVET Council will focus on advanced TVET and robotics, with plans to introduce more relevant courses to boost graduates' employability. Attention will also be directed towards rural infrastructure development and the halal industry in the coming year.