Bangkok: Preparations are underway to finalize Thailand's 70-baht budget bill next week before it is submitted to Parliament for its second and third readings between September 7-9. The Budget Committee of 2017 is working diligently to finalize its report, which has seen significant cuts and reallocations, including a notable injection of funds into the Student Loan Fund.
According to Thai News Agency, Mr. Koravee Prisnanantakul, MP for Ang Thong Province and spokesperson for the House of Representatives' Special Committee on the 2027 Budget Bill, detailed the committee's progress. Over 11,162 million baht has been cut from various agency budgets, with funds reallocated to the central budget. The most significant change includes a 9,000 million baht allocation to the Student Loan Fund. The reductions span several subcommittees, with notable cuts in training, ICT, and land subcommittees.
Mr. Koravee elaborated on the reallocated funds, highlighting that a portion will support the central reserve fund for emergencies, vocational education improvements, and the Royal Thai Police's education initiatives in remote areas. Additional allocations will aid various government agencies, including the Department of National Parks, Wildlife and Plant Conservation, and the Science, Research and Innovation Promotion Fund.
The budget committee's actions are based on priorities of cost-effectiveness and public benefit, rather than specific reduction targets set by the government. Mr. Koravee emphasized that the adjustments aim to ensure that public services remain unaffected while optimizing the use of public funds.
In a notable case, the committee decided to reduce the Pollution Control Department's budget following an unresolved legal issue regarding the Khlong Dan case. The decision to withhold 3 billion baht until a final court ruling is made reflects the committee's focus on safeguarding public funds from potential misuse due to ongoing litigation.
The Student Loan Fund received a significant boost, with a budget allocation of 9 billion baht for 2027, a substantial increase from the previous year's 5 billion baht. Mr. Koravee reassured students of the government's commitment to supporting education, while also noting the importance of efficient fund management to avoid future government burdens.
The committee has completed its review of all agency budgets and will finalize voting on each article of the bill next week. The bill is expected to proceed smoothly to the second and third readings in Parliament, with subsequent Senate consideration anticipated to align with the new budget timeline in October.