to develop electric vehicle manufacturing industry 50 electric buses to be introduced RM200 million allocation for MyCreative Ventures in 2012 RM100 million allocation for Digital Content Industry Fund High-speed Broadband will be implemented in high-impact areas, covering state capitals and selected major towns nationwide RM2.7 billion will be spent over the next five years to build 1,000 new telecommunication towers and laying of undersea cables Malaysia – Year of Festivals 2015 to attract 29.4 million foreign tourist arrivals with expected income of RM89 billion SME Investment Partner to be implemented with initial fund totalling RM375 million for five years RM80 million will be allocated for a soft loan scheme for automation and modernisation of SMEs Tekun to provide additional funds of RM500 million RM350 million Tekun fund to be allocated to Bumiputera entrepreneurs RM50 million Tekun fund to be allocated to Indian Entrepreneurs Financing Scheme RM50 million Tekun fund to be allocated to the Armed Forces Veteran Entrepreneur Development Programme Soft loans totalling RM50 million for SME entrepreneurs from the Chinese community, RM30 million for hawkers and petty traders 360 high-impact innovative products to be commercialised within the next five years RM290 million research fund to implement various high-impact research and development and commercialisation programmes Electricity consumption that is not subject to GST to increase from 200 units to 300 units. This will benefit 70 per cent of households The retail sale of RON95 petrol, diesel and LPG be given relief from the payment of GST The prices of 532 items, or 56 per cent in the basket of goods of CPI, are expected to reduce up to 4.1 per cent following the implementation of GST About 354 goods and services may see some price increases but less than 5.8 per cent following the implementation of GST Government will disseminate shoppers’ guide to enable consumers compare prices before and after the implementation of GST 300,000 individual taxpayers will no longer pay income tax in 2015 following the implementation of GST For 2015, tax payers with family and income of RM4,000 per month will not have to pay tax Individual income tax would be restructured in 2015 whereby the chargeable income subject to maximum rate would be increased from exceeding RM100,000 to exceeding RM400,000 Cooperative income tax rate would be reduced by one to two percentage points next year In 2016, corporate income tax rate would be reduced by one percentage