China's top legislature will review a draft revision to the Budget Law aimed at improving transparency in August, Chinese media reported on Wednesday.

According to Gao Qiang, director of the Budgetary Affairs Commission of the NPC Standing Committee, revising the law is a particularly important part of the legislative work of the 11th national People's Congress (NPC).

The revision will significantly enhance NPC's supervision of the government budget, Gao said. In the past, revenues of local governments that were not projected in budget estimates have been left unsupervised, enabling abuse, he said.

The current Budget Law was enacted in March 1994 and the revision has been in the works for two years, according to Xinhua. Gao said the revision will also state punishments for those caught breaching the law.

In the future, all budgets submitted to the legislature must also be made public on government websites, Gao said.

This year, China has already exhibited a new degree of transparency about its budgets by releasing more figures about government revenue and spending than before, China.org.cn notes. According to the report, China has budgeted 1.87 trillion yuan in government fund revenues in 2010, and an expenditure of 1.94 trillion yuan.

Also for the first time, details of government revenues incurred from, for example, land transfer and lottery sales were released. According to China.org.cn this money will be used to finance infrastructure construction and social spending.

Last year, the central government took in 27.49 billion yuan, and local governments 1.4 trillion yuan from land transfers, China.org.cn says.

The NPC also asked the State Council, China's cabinet, to provide reports about administrative expenditures in 2011, which is easily abused by government officials. This information would be included in next year's budget report, Gao told China.org.cn.

Corruption has been growing in China in tandem with its wealth, but more and more dishonest officials are also getting caught, USA Today notes.

According to He Guoqiang, head of the Central Commission for Discipline Inspection, better internal supervision rather than rising levels of graft is responsible for the growing number of officials found guilty of corruption.

In his annual report last Friday, Premier Wen Jiabao said that China will give high priority to fighting corruption and encouraging integrity, USA Today writes.

In 2009, China ranked 79th out of 180 countries on Transparency International's Corruption Perceptions Index.