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National Development Policy

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OBJECTIVE OF NATIONAL DEVELOPMENT POLICY The main objective of national development policy is to attain a balance development in order to achieve more fair, stable and united society in Malaysia since there are many races in our country. “Growth with equity” is the most principal in National Development Policy since it requires all Malaysian without concerning their races, religion, faith and cultural to participate in mainstream of economic activities, stability of politics, thus ensuring our country stability. There are many critical aspects in National Development Policy which are: • Gaining notable optimum balance between the goals of economic growth and equity • Secure of development of major sectors of economy in order to rise their mutual …show more content…

• Promoting and strengthening national integration by reducing the wide disparities in economic development between states and between urban and rural areas in the country • Developing a progressive society in which all citizen enjoy greater material welfare, which simultaneously imbued with positive social and spiritual values, and an increased sense of national pride and consciousness • Promoting human resource development including creating productive and disciplined labour force and developing the necessary skills to meet the challenges in industrial development through a cultural of merits and excellence without jeopardizing the restructuring objectives • Making science and technology an integral component of socio-economic planning and development, which entails building competence in strategic and knowledge-based technologies and promoting a science and technology culture in the process of building a modern industrial economy • Ensuring that in the pursuit of economic development, adequate attention will be given to the protection of the environment and ecology to maintain the long-term sustainability of the country’s development These objectives of National Development Policy proclaim as above in to achieve a balanced development are based on these …show more content…

In 1970, those with a chargeable income of RM2500 per year was subjected to taxation at a rate of 6 percent. However, in 1990, the tax rate was reduced to 5 percent and in 2000, to zero percent. Government use this strategy to aim generally at establishing a more progressive income tax regime. Implicit was the concern for the poor and the lower income group to have a bigger disposable income. Implicit, too, was the concern for a reduced income inequality between this group and higher income groups, in terms of disposable or post-tax

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