The other changes that Moily suggested included 'immediate implementation of the Benami Transactions (Prohibition) Act 1988.' The law enacted in 1988 by the erstwhile Rajiv Gandhi government is yet to be implemented.

Moily also sought widening the anti-corruption law to include acts like 'violation of the oath of office, gross perversion and misuse of the constitutional provisions, abuse of authority by unduly favouring or harming someone, obstruction of justice, squandering public money and collusive bribery' etc within the ambit of corruption.

He said 'there is an emerging global consensus that fighting corruption and building 'good governance' are essential for the socio-economic development of any nation'.

'The prevalence of corruption undermines social cohesion, wider participation of citizens in economic and political processes, distorts allocation of resources and delivery of public services particularly damaging the interest of the poor and marginalised sections of society,' Moily added.