What are Budget and Budgeting? Or, Define: Budget & Budgeting.

Budget is a matter of future action. It must be quantitative but not qualitative. So, it is a numerical blueprint of future action which is related with economical activities.

On the other hand, budget is a law relating to one country’s economic activity. It is an important part of a country’s constitution.

On the other hand, the act of preparing budget is called budgeting.