Why is it that the future plan given to banks for raising loan are called as projections while the future plan the company has for itself is called budget?
What is the difference between projection and budget? 
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Query on Budgets / Projections
Replies (2)
Projections are what you think is most likely to happen, while budget is what you would like to have as actuals
Projections are Extrapolation from the past data. It will more or less match your requirement. whereas Budgets are your Expectation on the future.
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