While reading the 2017/18 budget in parliament, Treasury Cabinet Secretary Henry Rotich said that the annual payment totalling to Sh7.4 Billion would see the elderly people get National Health Insurance Fund Covers.
Kenyans over 70 years will now receive monthly stipends and free medical covers from 2018.
CS HENRY ROTICH
Previously, elderly people had been receiving Sh2000 per month but it’s not clear how they will receive after the new budget.
Rotich also highlighted that the government had introduced a duty-free importation of maize in the next four months and the removal of value-added tax on both bread and maize flour.
This will bring the price of maize flour down from Sh120 to Sh100 and a loaf of bread from Sh50 to about Sh42.
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“Considering the hardship and suffering associated with the recently declared national disaster as a result of the widespread drought in the country, white maize will be imported on a tax-free basis for a period of four moths,” the CS said while reading the budget.
The Government did not spare betting companies in the country after increasing their taxes from 7.5 to 50%.
"The betting and gaming have become widespread in our society in an environment that is inadequately regulated. Its expansion is beginning to have negative social effects in particular on the young and vulnerable members of our society.
“I, therefore, propose to raise taxes for betting, lottery, gaming and competition from the current rates of 7.5 per cent, five per cent, 12 per cent and 15 per cent, respectively to a uniform tax rate of 50 per cent for all categories," Rotich said in his budget speech.
