Pakistan’s legislative experience shows that the role of parliamentarians in the budget process has remained marginal. The present process is mostly ineffective with no substantial parliamentary input in the budget. Legislative oversight of the budget process in particular, is of vital importance in ensuring that governments carry out their duties efficiently, democratically, and in a fiscally responsible manner. It is therefore important to enhance and strengthen the role of Parliament in the budget making process for ensuring accountability and transparency of the executive and for the needs of the public to be adequately addressed in the budget. Understanding the Budget and Budget Process a briefing paper by PILDAT, is prepared for members of Parliament to enhance their knowledge and awareness on issues relating to budget documents and budget process so as to enable them to make an effective contribution in the parliamentary budget process. Authored by Dr. Kaiser Bengali, an eminent economist, the paper is designed to act as a guide for parliamentarians on the main features of the budget and how to make an informed analysis of the budget. It aims to equip the MPs with the tools and knowledge for influencing the agendas of decision making related to the budget. The briefing paper has been prepared to help MPs develop parliamentary skills and understanding crucial towards the discharge of their duties as public representatives. PILDAT would like to acknowledge and appreciate the financial contribution of UK Government’s Global Opportunities Fund, through the British High Commission, Islamabad in producing this briefing paper.