NEW DELHI: Prime Minister Manmohan Singh on Tuesday said the Government was aware that it must minimise the impact of rising oil prices on people but at the same time had to keep in view the imperatives of sound fiscal management.

"The House has passed the Petroleum and Natural Gas Regulatory Board Bill, 2005. I do hope our policy in this vital energy sector will be based on rational principles, mindful of the realities that we face," he observed in his valedictory remarks in the Rajya Sabha at the close of the budget session of Parliament.

Responding to leader of Opposition Jaswant Singh's remarks that there was lack of transparency in the Government, Dr. Singh said the United Progressive Alliance Government had been "a very transparent" one that had welcomed parliamentary debates on many issues agitating the members. "Our own experience with regard to transparency was not the same when we were in the Opposition. We have shared all details regarding civil nuclear cooperation (with the United States) and to the nuclear separation plan to which we committed ourselves. I myself spoke here on five different occasions."

The Prime Minister commended the people for the manner in which they reacted to the flare-up of communal violence in Vadodara and also after the terrorist attacks in Varanasi. "We should take pride in the fact that our people are fighting terrorism and communalism by resisting the ideology of hatred."

In his remarks, Chairman Bhairon Singh Sekhawat expressed satisfaction at the House having been able to establish through its actions that probity in public life was the foundation of Indian democracy. "It is only through the highest standards of ethical behaviour that members can truly enhance the credibility of Parliament as the nation's highest legislature," he said.

Mr Shekhawat recalled the recommendations of the Ethics Panel of the House - probing involvement of two Rajya Sabha members in "Operation Chakravyuh" shown on a private channel - that had recommended expulsion of a member and referred the complaint of another member to the Privileges Committee for further examination.

He said that in this long budget session 30 Bills were considered and passed or returned. Several of the Bills had a far-reaching socio-economic importance.

Leader of Opposition said although the valedictory remarks should be polite and courteous he could not help but observe that if the Opposition were to be treated as an "inconvenience" and the Parliament as some kind of "obstacle" it would be a sad development.

"I am sure that is not what the treasury wants. That is nobody's intention. But that aspect comes to mind. It is a challenging circumstance we all face in all respects."

Mr. Singh said the conclusion of the session coincided with the completion of two years of the UPA government. "The fact that it lasted two years is in itself an achievement. But the impatience we have witnessed leaves a bitter taste."

All three leaders welcomed the re-election as Deputy Chairman of Congress member K. Rahman Khan.

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