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Last name origins & meanings:

1. Indian (Gujarat and Bombay city): Parsi name, probably from Persian bālā ‘high’, ‘exalted’.
2. Indian (southern states): variant of Balan, particularly among speakers of Tamil and Malayalam who have migrated away from their home state. In India it is only a given name, but it has come to be used as a family name among South Indians in the U.S.
3. Polish: from a reduced form of the personal name Baltazar.
4. Hungarian: from a pet form of the personal name Balázs, a vernacular form of Blasius.