This country is giving out upto ₹14000 bonus to its every citizen aged above 21 years

Expecting a surplus budget this year, the Singapore government has decided to reward every citizen aged above 21 years between S$100 to S$300 “hongbao” bonus.

The “hongbao” or monetary gift will be given to Singaporeans who are above 21 years of age, based on their assessable income.

“In 2018, all Singaporeans aged 21 years and above in 2018 will receive an SG Bonus cash payment of up to SGD 300. The SG Bonus will be paid out to about 2.7 million recipients in end-2018,” Annexure C-2 of the budget document read.

Adult Singaporeans with an annual income of up to S$28,000 will receive S$300, those whose annual earnings are between S$28,001 and S$100,000 will get S$200, while those drawing more than S$100,000 a year will get S$100.

Anyone who owns more than one property is eligible for S$100 regardless of income.

The payments, dubbed the SG Bonus, will be disbursed at the end of the year and will cost the Government S$700 million.