Billions of rands have been assembled and suitably allocated, so how does the national budget affect you? On national Budget Day Finance Minister Enoch Godongwana announced the plan for the country’s monies.
The R1,35 trillion allocated to social services will go to:
. Basic education will receive the largest chunk of the budget with R293,7 billion.
. Students who receive the National Student Financial Aid Scheme (NSFAS) will draw from the pot of R50,1 billion. Universities (R45,1 billion) and Technical and vocational education and training (R13,3 billion) will also receive billions.
. The R259,2 billion allocated to the health sector will be divided among district health services (R113,1 billion), central hospital services (R48,6 billion), provincial health services (R40,2 billion), the management and upkeep of facilities (R11,3 billion) and other services (R48,1 billion).
Community Development has a R259,7 billion budget for the next financial year. Municipalities will receive R96,5 billion for the municipal equitable share. Human Settlements, which provides state housing, water and electrification programmes, will split the R61,7 billion between projects; R53,2 billion will go towards the public transport sector, while R48,2 billion has been allocated to other human settlement projects as well as municipal infrastructure.
. Social development will receive R378,5 billion. The R99,1 billion for old-age grants translate to R90 increase for beneficiaries older than 60 years and R120 for those older than 75 years. The Foster Care Grant will increase by R60 from R1 070 to R1 130. The Child Support Grant will increase by R30 from R480 to R510. Disability Grant will increase by R90 from R1 990 to R2 080 in April 2023 and to R2 090.