Friday, October 11, 2019

Budget 2020 | Ministry of Youth and Sports

Let's talk about Malaysia's Budget 2020. The budget talk has been all over the news today and I find the insights are very important in order to keep up with the economy as an individual. Not many of us realize how much impact these budgets determined by the government would affect the people of Malaysia on the ways we spend, sell and run our business. According to the news, the public should be aware that we are moving towards the evolution of technology, and this would improve the infrastructure of the development of Malaysian culture and the growth quality of the nation. With that being said, let's cover more on the Ministry of Youth and Sports since im considered under the youth sector.

For those who know me, you'd be aware that I graduated with a master's degree when I was 24. Within the past 3 years, I've worked for 2 companies to gain experience and now going back blogging since I have a newborn with me now. To keep up myself updated with the news, I've taken some time to listen to the Budget 2020 talk in hopes that im not left behind in the development of the economy. For those who have missed out on this, let me share with you some insights on a favorite topic of mine on the news which covers the Youth and Sports development programs that the government has to offer.


For the youth development budget, the government has announced that there will be an allocation of RM138 Million that would be spread out under 3 programs namely Youth Power Club (YPC), Malaysia Future Leader School (MFLS) and Volunteerism Initiatives. With that amount of budget being allocated, i really hope that there will be an appropriate opportunity being given to the youth of Malaysia to make a living and possibly contribute to the nation on industrial development locally. KBS also will ensure that his provision is used to implement a comprehensive action plan for youth development in line with the Vision of 2030.


Under the sport's development, the news has announced that there will be an allocation of RM179 Million that would be contributed to the International Sports Program in which most likely will be to send out or sports team to Tokyo Olympics 2020, Hanoi SEA Games 2021 and also to support in training our Paralympic Athletes as well.


Under the E-sports section, there is an allocation of RM20 Million. The e-Sports industry is an important medium for building future generations, especially when the world is moving towards a digital era. It is one of the leading digital world movements and it doesn't limit to only gaming but also a step for young people to get ready for the Industrial Revolution 4.0.


And looking into our national sport, there's increased allocation of RM45 Million for the National Football Development Program (NFDP). Since we have an outstanding performance of national football players, the program has opened the eyes of many people both domestically and abroad. The government recognizes the importance and supports this effort by increasing the allocation from RM15 Million in 2019 to RM45 Million by 2020 through the Ministry of Youth and Sports.


And under the Malaysian@work sector, there are divided into four programs namely Graduates@work, Womens@work, Locals@work, and Apprentice@work. With these 4 programs being available and active, it would give an opportunity to provide workers with incentives and gain incentives for employers. This initiative will be managed by EPF and will be updated with employment insurance systems as well. With an expected cost of RM6.5 Billion over the next 5 years, the government will create an estimate of 350,000job opportunities Malaysians and reduce the dependency of foreign workers.

As a conclusion, im pretty happy to see that there is an allocation under the Womens@work program where women who are between the age of 30-50 and has stopped working for a year, they will be eligible to receive RM500 a month for a period of 2 years as a wage incentive. And as for employers, they will get RM300 a month who hire female workers for a period of 2 years. With all these budget talks today, I really hope that the economy of Malaysia will further improve its status by giving better job opportunities and encourage the growth of the nation by encouraging Malaysians to strive to serve the nation. So that being said, do share with me on what youre expectations are out of this breakdown on our Budget for 2020.


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