“Chulaphan” confirms digital money will enhance the modern economy

Customs Department, 'Chulaphan' confirms digital money will enhance the modern economy, help stimulate the economy, and will not change its mind about giving out cash. Mr. Chulaphan Amornvivat, Deputy Minister of Finance, said that the Senate approved an additional 122 billion baht in the 2024 budget. The use of the 10,000 baht digital wallet has proceeded in accordance with all relevant legal and regulatory procedures. He confirmed that no one dares to make a policy that violates the law. In addition, the digital system operates by allowing people to register via the "Government App" to pay via the Payment system. He confirmed that the system is safe. Currently, it is proceeding according to the procedures without any problems. 14 banks have expressed their intention to connect the payment system with the government because they are confident in the development of the payment system. In the end, they must sign an MOU together. Spending 10,000 baht in digital money, eligible people spend money through part icipating local shops. After that, participating shops are in the tax base. Spending the second round, you can choose to press to receive the cash transfer. Various banks will transfer money from the electronic wallet to the shop's deposit account. It must be emphasized that spending money normally is the same as scanning and transferring money from the bank to buy products at present. There is no difference because it is spending with a budget. When the shop buys products in the second round from a general purchasing source and is in the tax base system, you can press the button to request cash. The next day, the system will transfer money into the account. The money transfer mechanism is not a crypto exchange. But it is a money transfer mechanism through the Comptroller General's Department, transfer money to the bank, and then send the money into the shop's account. 'In the case of a senator who debated in the parliament, he said that villagers and small shopkeepers want cash. As an MP representing the pe ople, I still want to give cash to villagers because it is easy and convenient. When we want to upgrade to a digital economy, we must create a more efficient mechanism. Using money can be beneficial, stimulating the economy, and we can determine which products to spend the money on. It creates jobs in the country. However, using cash cannot set any goals. Therefore, we need to develop the basics of the digital economy to reduce the use of coins or banknotes in the future. The Treasury Department would like to confirm that digital wallets are not cryptocurrencies. They are spending money using the budget to support the budget proposal in order to refer to every baht and every satang in the digital wallet,' said Mr. Chulaphan. Mr. Chulaphan added that he must encourage the Move Forward Party because they are also MPs. In terms of the consideration of the Constitutional Court's case, he is 100% confident that the Prime Minister will pass and not be removed from office because he has followed the process, is sin cere, has no negative intentions in this process, and has passed the inspection process of the relevant agencies. It does not affect the digital wallet money transfer policy through the process of informing the parliament as promised in the campaign. Therefore, it is not a cause for concern. Source: Thai News Agency