First batch of TRAIN subsidies out this March — Diokno
The government will be releasing over P4 billion worth of subsidies to the poorest Pinoys.
Secretary Benjamin Diokno said the Department of Budget and Management released P24.5 billion to the Land Bank of the Philippines on Monday, March 5 to be distributed to the 10 million poorest households in the country.
The funds represent the cash transfers provided under the Tax Reform for Acceleration and Inclusion (TRAIN) law, which will extend a P200 monthly subsidy to indigent families and senior citizens.
The first tranche worth P4.3 billion will be released to beneficiaries of the Pantawid Pamilyang Pilipino Program (4Ps) within March. A total of 4.4 million households will get an extra P2,400 on top of their benefits under the 4Ps.
The payouts will rise to P300 per month by 2019 and 2020.