There will be a new BR1M category. Recipients with household incomes of RM3,000 and below will have their BR1M payment doubled from RM400 to RM800 in June and August this year.
"This means that your BR1M payment for this year will be increased from RM1,200 to RM2,000," said Prime Minister Najib Razak.
He also announced that those with a household income of between RM3,000 and RM4,000 will have their BR1M payment increased from RM300 to RM600 in June and August.
This makes their total payout increase from RM900 to RM1,500 this year.
For those who are single with a household income of RM3,000 and below will have their BR1M payment increased by RM150 in June, making it RM600.
The new category for BR1M is for those with a household income of between RM4,000 and RM5,000.
They will receive a total of RM700, which will be made in two payments of RM350 each in June and August.
Najib said the extra funds for the BR1M payments was possible due to the good financial and economic health of the country.
"We also had an increase in the Goods and Services Tax (GST) collection, which the Opposition often criticises.
"Because of our strong economy, the Barisan government would like to share the initiatives with the people," he said.