The July 2024 budget represents a continuation of fiscal policy under the incumbent government, following the interim budget presented in February 2024 before the elections. This earlier budget was crafted under the expectation that the same government would retain power, albeit with a forecasted reduced majority. As predicted, the government did continue, but now it faces a shifted political landscape, relying on coalition partners to govern. Consequently, the financial strategies initially outlined in the February budget have been significantly adjusted to align with the new government’s altered priorities.
Instead of comparing this budget with that of FY 2023-24, it is more insightful to examine the deviations from the February 2024 interim budget. However, this comparison is not straightforward, as the July document omits the February figures. Therefore, one must reference a separate document to meticulously compare changes in allocations line by line—a laborious but necessary task to understand the shifts in governmental priorities. I have spent considerable time analyzing the expenditure aspects of the budget to discern these changes. This analysis aims to detail these shifts with as much granularity as possible, allowing readers to clearly perceive how political dynamics have reshaped budgetary allocations and priorities.
