Its open budget index score of 68 out of 100 is much higher than the average score of 43 for all countries covered in the Global Open Budget Survey 2012, it said.
The survey is released every two years and India's OBI score during 2008 was 60.
India continues to occupy the same rank as in 2010. However, its score, which is based on various parameters largely relating to availability of budget information, is the highest in South Asia.
According to IBP, India's current score indicates that the government provides significant information on its budget and financial activities during the year, enabling Indian citizens to hold the government accountable for management of public money.
Finance minister P Chidambaram is scheduled to present the Budget on February 28.
The survey showed New Zealand, with an OBI score of 93, provided the most information on budget, followed by South Africa (90), the UK (88) and Sweden (84).