KUALA LUMPUR, Oct 12 — Khazanah Research Institute (KRI) says Budget 2020 has addressed some pressing issues facing the nation, while driving growth and attaining long-term equitable outcomes.

"It attempts to strengthen the structure of the economy, develop the quality of the labour force and enhances the well-being of the people. This is the first budget since announcing the Shared Prosperity Vision 2030,” it said in a statement here today.

KRI said the budget echoed some of KRI’s areas of concern, such as an increase in individual tax relief for TASKA fees which may strengthen care provisions by alleviating the financial burden of families, and which was highlighted in its "Time to Care: Gender Inequality, Unpaid Care Work and Time Use Survey” report.

Finance Minister, Lim Guan Eng, while tabling Budget 2020 in Parliament yesterday, announced that to ease the financial burden of parents who enrolled their children in registered nurseries and kindergartens, the individual tax relief for fees paid would be increased from RM1,000 to RM2,000.

"A more targeted and expanded Bantuan Sara Hidup (BSH) is a step in the right direction to help lower-income households,” it said.

KRI said it hoped to continue to playing a role in supporting policy development addressed in Budget 2020 and broader goals of the Shared Prosperity Vision 2030. — Bernama