CS Rotich Directives That Have Wowed Kenyans

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CS Rotich Directives That Have Wowed Kenyans

Treasury Cabinet Secretary (CS) Henry Rotich on Thursday presented the annual national budget at the floor of the national assembly which totalled to Ksh3 trillion.

Several economic experts and Kenyans, in general, had raised concerns over the staggering national debt that has hit the Ksh5 trillion mark.

But as Kenyans waited in bated breath for the budgetary allocations and new tax measures set for implementation in the new financial year, the CS did not disappoint.

“CS

Among the things that delighted netizens is the introduction of the proposition of a new law that will compel firms to contribute up to Ksh5,000 for every employee towards National Housing Fund.

The directive by CS Rotich is in line with the Big Four Agenda that that targets affordable housing as a key pillar of the Jubilee administration.

Besides, the treasury revealed plans to repeal the interest rate capping citing that it has failed to ease access to credit.

In its place, the CS indicated that he will soon table a new Bill that will ease lending and also help reign in rogue lenders who are on an uncontrolled lending spree.

Another important development from the budget was the reduction in tax on renewable energy on which the CS declared 100% tax waiver on the importation of materials and equipment used to manufacture energy saving stoves.

Treasury further allocated Ksh400 million for the establishment of the Cancer Institute which is set to combat the alarming cancer menace.

Besides, the CS move to allocate Ksh91billion to universities and Ksh16 billion to technical institutions was equally received positively by a majority of Kenyans.

“CS

“Despite the need to reduce the fiscal deficit, we have, in addition to funding “The Big Four” Agenda, sustained the prioritization of resources to Pro-Poor Programmes in social protection, education, health, food security and disaster risk mitigation measures,” the CS noted.

However, Kenyans continued raising concern over the increasingly frequent scandals and high corruption within government institutions.

Here are some of the reactions following the presentation of the 2018/2019 budget with tweeps expressing their support or displeasure with the budget:

 

 

 



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