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Every Singaporean aged 21 and above will receive up to S$300 bonus, announces govt in 2018 budget

FILE – In this Wednesday, April 20, 2016, file photo, two kayaks are dwarfed against the skyline of the Marina Bay area, which is home to popular hotels, and tourist attractions such as the Singapore Flyer, the city-state’s observation wheel seen at right, in Singapore. (AP Photo/Wong Maye-E, File)

FILE – In this Wednesday, April 20, 2016, file photo, two kayaks are dwarfed against the skyline of the Marina Bay area, which is home to popular hotels, and tourist attractions such as the Singapore Flyer, the city-state’s observation wheel seen at right, in Singapore. (AP Photo/Wong Maye-E, File)

NEW DELHI:

The Singapore government Monday announced that all Singaporeans aged 21 and above will receive a one-time bonus of up to S$300 each. Described as “hongbao”, the bonus will be paid according to a person’s annual income. About 2.7 Singaporeans stand to benefit from the payout which will cost the government S$700 million.

Finance Minister Heng Swee Keat, while making the announcement in his Budget speech, said this “reflects the Government’s long-standing commitment to share the fruits of Singapore’s development with Singaporeans”.

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Credit: indianexpress.com

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