The government's 10,000-baht digital money handout may face delays of seven to eight months and will only cover the poor, according to a deputy minister of finance.
Mr Julapun Amornvivat said on Thursday that the project's sub-committee recommended limiting the handout to 16 million people who have state welfare cards or people meeting specific wealth criteria based on income or savings.
If limited to the 16 million welfare cardholders, the scheme will cost the state 160 billion baht.
Mr Julapun said if the handout excludes people earning more than 25,000 baht monthly or having at least 100,000 baht in deposits, the scheme will cover about 43 million people, costing approximately 430 billion baht.
Another proposal by the sub-committee excluded individuals earning over 50,000 baht monthly or having savings exceeding 500,000 baht. In this scenario, the handout would cover 49 million recipients, costing the state 490 billion baht.
The government initially planned to give 10,000 baht worth of digital money to each Thai aged 16 years and over. The Pheu Thai Party had raised the handout as its key campaign policy.
But with 54.8 million people meeting the original condition, concerns arose about the costs of over 500 billion baht affecting the country's financial stability.
The scheme would be delayed for seven to eight months, pending approval of the 2024 national budget, Mr Julapun said.
Previously the government intended to hand out the digital money on Feb 1 next year.
