Abstract: The Chinese government budget system gradually is improved, but high revenue and expenditure budget deviation weaken the fiscal regulatory capacity, reduce the scientific and authoritative government budget directly, and affect the multi-year budgetary mechanism establishment, which is not beneficial to the local debt management. The government budget high deviation is related to the annual budget constraint, the incentives to the government official short-term promotion, and the low-budget transparency as well as the fiscal revenue and expenditure forecasting technological backwardness. In order to improve the government's budget efficiency and reduce the budget and final balance deviation, it is of importance to enhance the budget predictability, transparency and legal system, meanwhile to introduce more scientific and financial revenue and expenditure forecasting techniques.