What is the meaning of Allowance?

Permission; granting, conceding, or admitting.

Acknowledgment.

An amount, portion, or share that is allotted or granted; a sum granted as a reimbursement, a bounty, or as appropriate for any purpose.

Such a sum or portion granted to a family member or familiar, especially one's own child; pocket money for such a person.

Abatement; deduction; the taking into account of mitigating circumstances.

A deduction from the gross weight of goods, such as to discount their container's weight or per a custom differing by country.

A permitted reduction in the weight that a racehorse must carry.

A permissible deviation in the fineness and weight of coins, owing to the difficulty in securing exact conformity to the standard prescribed by law.

Approval; approbation.

License; indulgence.

A planned deviation between an exact dimension and a nominal or theoretical dimension.

To put upon a fixed allowance (especially of provisions and drink).

To supply in a fixed and limited quantity.

Source: wiktionary.org