Indian Prime Minister Manmohan Singh says his government will take the “strictest possible action” against corruption.

Mr. Singh said Monday that there is no “magic wand” to solve the problem of graft, but he promised to work towards greater transparency and to fight corruption on many levels. The prime minister made the comments at New Delhi's Red Fort, in a speech marking the 64th anniversary of India's independence from Britain.

Several high-profile corruption scandals have made headlines in India over the last year. They include the sale of telecommuncations licenses at below market value, which cost the government up to $40 billion in lost revenue, and numerous financial irregularities in India's hosting of last year's Commonwealth Games.

The government has introduced a new anti-corruption bill in parliament that would create a civil organization, or lokpal, with the powers to investigate ministers and bureaucrats.

But some activists, including Anna Hazare, have dismissed the bill as weak and ineffectual. Hazare has vowed to begin a hunger strike on Tuesday to protest the legislation, which he says does not allow the lokpal to prosecute the prime minister or the judiciary.

Prime Minister Singh has appealed to Hazare to abandon his plans. In his speech Monday, the Indian leader said those who have differences with the proposed law should not resort to protests and hunger strikes, but instead make their views known through parliament, political parties and even the media.

Mr. Singh noted that India has become an economic success despite the global financial slowdown. Still, he said the problem of corruption is a “big obstacle” to the country's transformation into a major economic power.

The prime minister also said in his independence day speech that the government will continue to fight India's high inflation, including taking steps to combat the rising price of food and fuel.