Both are similar and mean estimates or plans for future. While forecasting is more general, budgeting is more particular to financial terms.

What is the difference between budgeting and forecasting? Actually, I need some good references for a paper that I've been preparing.

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Both are similar and mean estimates or plans for future. While forecasting is more general, budgeting is more particular to financial terms. While budgets are prepared for a specific tenure, forecasts are more flexible and often change.
 

Sources: http://en.wikipedia.org/wiki/Forecasting

http://en.wikipedia.org/wiki/Budgeting
 


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