A balanced budget is defined as a condition of equality of planned receipts and planned expenditure.
A balanced budget occurs when the government's planned receipts (e.g. taxes, fees, and other revenue sources) are equal to its planned expenditure (e.g. spending on public goods and services such as healthcare, education, defense, infrastructure, and other programs). This means that the government is not running a budget deficit (spending more than it takes in) or a budget surplus (taking in more than it spends).
In other words, a balanced budget implies that the government is living within its means, as it is not borrowing or accumulating debt to finance its expenditure. This can be seen as a responsible fiscal policy that helps to promote economic stability and sustainability.
However, achieving a balanced budget can be difficult, as it requires careful planning and management of government finances. In some cases, governments may need to adjust their revenue and expenditure policies to ensure that they can maintain a balanced budget over the long term.