What is Budget estimates all about?

An estimation of the revenue and expenses over a specified future period of time is budget estimates. A budget is a  microeconomic concept that shows the tradeoff made when one good is exchanged for another. 

A surplus budget means profits are anticipated, while a balanced budget means that revenues are expected to equal expenses. A deficit budget means expenses will exceed revenues. Budgets are usually compiled and re-evaluated on a periodic basis. Adjustments are made to budgets based on the goals of the budgeting organization. In some cases, budget makers are happy to operate at a deficit, while in other cases, operating at a deficit is seen as financially irresponsible.