Budget preparation may be one of India's most secret exercises, but what's not under wraps is that the annual financial statement ranks 17th in a transparency index compiled by an American civil society group.

India is placed below countries like Brazil and Peru in the list of 59 countries measured for transparency of the Budget document.

The Open Budget Index 2006 list, prepared by Washington-based Center on Budget and Policy Priorities with inputs from Centre for Budget and Governance Analysis in New Delhi, evaluates the quantity of information presented to the citizens in the key Budget documents.

The group believes that all governments should make public during the course of the Budget year, information that paints a comprehensive picture of the administration's economic activity.

India has scored 52 per cent when it comes to sharing of information, indicating that the government provides citizens with 'some information' on the Centre's Budget and financial activities, but there is much room for improvement.

France tops the list with 89 per cent score, followed by UK (88 per cent), New Zealand (86 per cent) and South Africa (85 per cent) at the second, third and fourth positions respectively.