The verdict means the government can immediately seek the royal endorsement for the bill. As it is passed into law, the government can reimburse spending which has been delayed from October 1.
Pheu Thai Party spokesman Prompong Nopparit thanked the court for the speedy verdict, as any delay could affect public confidence.
He also said that the Opposition MPs should review their political tactics and should not politicise anything just for political gains.
On September 5, a petition signed by 115 MPs and senators was submitted to the Parliament president asking for the Constitutional Court to issue a ruling on whether the 2014 budget bill violates the charter.
The petition was initiated by appointed Senator Paiboon Nititawan and Songkhla Democrat MP Wirat Kalayasiri.
In the petition, they argued that the House's ad hoc committee to alter the bill did not consult with the National Anti-Corruption Commission (NACC) or any court, including the Administrative Court, before cutting their budgets.
The panel had decided unilaterally to cut the proposed budget of courts and independent agencies. Originally, the 2014 budget allotted to the courts of justice was Bt18.7 billion, including Bt2.2 billion for the Administrative Court and Bt1.5 billion to the NACC. The committee later altered the figures to Bt14.5 billion, Bt2 billion and Bt1.3 billion respectively.
Earlier today, Deputy Prime Minister Pongthep Thepkanchana voiced optimism for a favourable judicial ruling.
"The bill has not violated any charter provisions and the Constitutional Court has not been empowered to review the budgetary allocation," he said.
At a cosmetics fair today, Prime Minister Yingluck Shinawatra also refrained from commenting on the verdict.