While we, Indians, are busy reading about all the multi-million dollar scams happening in our country, the government of Singapore is planning to give up to S$300 (₹ 14,709.60) to each of its citizens thanks to the good profits it registered this financial season.
Yes, you read that right!
The Singapore government overshot its budget, registering a profit of S$10 billion and decided to share the benefits with the people of the country, as reported by Hindustan Times.
The Finance Minister of the country, Heng Swee Keat, made this announcement during his budget speech.
This reflects the government’s long-standing commitment to share of the fruits of Singapore’s development with Singaporeans.
He called the bonus ‘hongbao’ which means monetary gift given on special occasions in Mandarin.
People with an income of S$28,000 or below will be getting S$300, which stands around ₹14,000 in Indian currency.
Whereas those falling in bracket of S$28,001 to S$100,000 will receive S$200, and those with incomes of S$100,000 will receive S$100.