What is the name of document that the government of India prepares for accounting all its income and expenditure?

Budget

The correct answer is Option 4  - Budget

A budget is a financial plan that outlines the expected income and expenses over a specific period, typically a month, quarter, or year.

As in the USSR, the Planning Commission of India opted for five year plans (FYP). The idea is very simple: the Government of India prepares a document that has a plan for all its income and expenditure for the next five years. Accordingly the budget of the central and all the State governments is divided into two parts: ‘non-plan’ budget that is spent on routine items on a yearly basis and ‘plan’ budget that is spent on a five year basis as per the priorities fixed by the plan. A five year plan has the advantage of permitting the government to focus on the larger picture and make long-term intervention in the economy.