Finance Minister Pichai Chunhavajira said after the meeting that the handout would be the second phase of the government’s handout scheme and would cost about B40 billion, reports the Bangkok Post.
“We will give the handout to those in need first,” he said.
Financial assistance for other groups of recipients would follow some time between April and June next year, Mr Pichai said.
Deputy Finance Minister Julapun Amornvivat said the recipients must have successfully registered for the handout scheme using the Thang Rath app. Recipients of the first round of handouts were not eligible.
To be eligible, an elderly recipient’s monthly income must not exceed B70,000, with no more than B500,000 in bank savings, he said.
The handout would occur by the Lunar New Year next year, he added.
Arrangements for elderly recipients who do not have a smartphone would be announced soon.
No other details were released.
The coalition-core Pheu Thai Party had earlier planned to hand out digital money worth B10,000 to each of 45 million people.