Analysis-Unusual election year budget in India signals Modi's sky-high confidence

FILE PHOTO: India's Prime Minister Narendra Modi waves to his supporters as he arrives to attend a rally in Guwahati, India, February 4, 2024. REUTERS/Anuwar Hazarika/File Photo

NEW DELHI (Reuters) - India's finance minister presented an austere budget last week despite upcoming general elections, a strong display of the administration's confidence that Prime Minister Narendra Modi would return to power for a third straight term.

Instead of the usual voter-friendly measures announced in election years, Nirmala Sitharaman's interim budget focused on fiscal discipline and cut subsidies on food, fertiliser and fuel.