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I have already done that. According to product team it is designed in this way only. Budget service may allow intially more number of transaction but average number will be apprx equal to rate defined in SLA. Budget service section in OCSG documentation describes this. But bit complicated to understand and alomost impossible to achive exact SLA rate.
This is how the budget service/SLA enforcement works:
If you define an SLA with rate control as x sms/y sec. From the time first request is sent, budget starts to diminish. At this point budget will be x-1. Say you've sent another request after n seconds, then it would be (x-2) + x*(y/n) or x whichever is higher. This x*(y/n) is added to the budget, because during those n seconds.
Since it is hard to define an interval in absolute time, budget service is designed this way to properly control the flow.