Majority of governments have articulated their promise towards gender equality goals but there are often inconsistencies between policy statements and the ways in which public finances are raised and spent. This paper states that a lot of effort has been taken in gender budget statement (GRB) over the last decade in India. The paper reviews the trends of gender budget in India over the last decade. On the basis of Indian experience, the paper attempts to assess the GRB initiatives in the country taking into consideration few critical questions: first, did GRB result in increased investments and budgetary resources to encourage gender equality? Second, did GRB make governments accountable for their commitments towards gender equality? third, has GRB been able to bring about changes to policies and budgets that would raise the social and economic status of women and further gender equality commitments? And fourth, given the degree of deprivation that exists in India, did GRB, as a tool of fiscal policy, contribute to the creation of an agenda to study budgetary priorities for the most marginalized women? Identifying imperative issues that are limiting the potential of the approach, the paper also recommends important points that the government needs to take into concern.