Saturday, 16 October 2010

2011 Budget Presentation is it good or bad or both

PM Najib presented the much awaited 2011 Budget on 15 October 2010.

The full text of his speech can be read here:

If its much too long then read the highlights as follows:

TheStar...Highlights of PM's Budget 2011 speech

NST....Budget 2011 highlights

Malaysiakini...Salient points in Budget 2011

These are some opinions/feedback on the 2011 Budget:

Analyst as usual non committal...Analysts give Budget 2011 average marks

Menteri kena pujilah especially if they lost in an election and are appointed Senators..Shahrizat says Budget 2011 most women and family-friendly

Dato' sak is just warming up....Budget 2011: Spend baby spend!

This Minister should not be a Minister for coming out with this pathetic comment..Mega-tower: 'We need it because we can do it' ya, never mind if the people don't need it, yes, Minister.

As usual the Opposition will not have anything good to say about the BN Government efforts...Pua demands end to government profligacy,  the budding politician may have something there you know, excerpts:

“The prime minister needs to answer why aren’t the government agencies able to spend within their budgeted limit,” he said.

“Why are they always overspending? How, in this case, can we take the Budget debates that are upcoming as a real debate? I mean, after we approve it, then they overspend anyway.”

The Petaling Utara MP also noted there was a “disproportionate” increase in next year’s operating expenditure budget relative to development expenditure, despite Barisan Nasional’s (BN) promises to focus on critical development projects.

The government plans to increase operating expenditure by RM10.6 billion, or seven per cent, from RM152.2 billion this year to RM162.8 billion in 2011.

Development expenditure, conversely, will drop by some RM5 billion, or nine per cent, from RM54 billion in 2010 to RM49.2 billion in the coming year.

“Given that this is a record Budget – the first time we are hitting RM212 billion – you would’ve expected more money to be apportioned for development expenditure, for investment purposes rather than for operating expenditure,” he said.

“The reverse has happened. We now have the highest proportion ever in our Budget over the past 10, 15 years. 76.8 per cent of our Budget now is spent on operating expenditure and only 23.2 (per cent) on development expenditure.”

The MI got it right this time: 2011 Budget: Big Malaysia is back

As for us Private Sector Engineers  we are still waiting for the projects list for Construction and Dredging work from the Ministries concerned, just hope jobs are not awarded happily to contractors which have no dredgers nor skilled manpower to do dredging works. That would be sad and a crying shame.

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