The following is a comparison of the rules regarding the transparency of MPs' private interests in India and South Africa. In India, conflict of interest amongst MPs has been debated extensively in the recent past. The primary check on preventing potential conflicts is that all MPs must declare their assets and liabilities to the concerned Speaker (Lok Sabha) or Chairman (Rajya Sabha). The Rajya Sabha Ethics Committee maintains a register of these interests (no such register exists for Lok Sabha MPs). Details in the Register of Members' Interests include: remunerative directorship, regular remunerated activity, shareholding of controlling nature, paid consultancy, and professional engagement. This material, however, is not put in the public domain. An interesting comparison is the Parliament of South Africa, where the Register of Members Interests' (consisting of MPs from both upper and lower house) is made public. Financial interests of MPs, remuneration from employment outside of Parliament, directorships, consultancies, property details, pensions, etc., are all made public (see latest register here).
The Madhya Pradesh Chief Minister recently remarked that the Rajya Sabha should be abolished. This is not a new thought. In 1954 and 1973, resolutions were moved in the Lok Sabha seeking to abolish the Rajya Sabha. Both these resolutions were unsuccessful. Attempts to abolish the Rajya Sabha have also been made by introducing private member bills in the Lok Sabha. These private member bills seeking constitutional amendment were introduced in 1971, 1972, 1975 and 1981. None of these Bills was passed by the Lok Sabha.