What do you mean by budget and also give its types?

Not necessarily. You may be, but again, you may not.

A budget is where you have a certain amount of money that you have to spend and you cant go above your budget.

I think you are thinking of felt

If you are talking about a type of clothing then you mean the Aran Islands, which are famous for the Aran jumpers or sweaters.

It's called FELT Past tense of feel and A type of rough cloth, like velvet.