Usually means: Minimal funds allocated for expenses.
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We found 12 dictionaries that define the word low-budget:

General (12 matching dictionaries)
  1. low-budget: Merriam-Webster
  2. low-budget: Oxford Learner's Dictionaries
  3. low-budget, low-budget: Collins English Dictionary
  4. low-budget: Vocabulary.com
  5. Low-Budget, Low-budget, low-budget: Wordnik
  6. low-budget: Wiktionary
  7. low-budget: Infoplease Dictionary
  8. low-budget: Dictionary.com
  9. low-budget: Rhymezone
  10. low-budget: FreeDictionary.org
  11. low-budget: Mnemonic Dictionary
  12. low-budget: TheFreeDictionary.com

Definitions from Wiktionary (low-budget)

adjective:  (of a project such as a film) Achieved with a relatively small financial outlay.

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