Try the below code:-

ret = []

def get_dep(m):
    global ret
    fl = main_path+m+'\\__openerp__.py'   
    with open(fl,'r') as f:
        ret = eval(f.read())['depends']
    return ret

main_path = 'D:\\openerp-7.0-latest\\openerp-7.0-20140804-231303\\openerp\\addons\\'

modules = [
    'account_budget',
    'base',
    'purchase',   
]

def display(module):
    for m in module:
        print m
        for f in get_dep(m):
           print '         '+f    
display(modules)



vals = [display(ret) for _ in range(3)] # It prints 3 level based on your need increase the value