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Planning is developing course to achieve your set goals.
Budgeting is setting right amount of money before starting a project.
Budgeting & Planning are important features of management control.
Budgeting involves identifying, prioritizing, acquiring, and allocating the resources needed to carry out the plan.
Planning consists of developing the objectives (the work required to achieve the organization's goals), timetables, and performance standards needed to implement the organization's strategy and assigning individual accountability for results
