Former prime minister Manmohan Singh on Wednesday said the credibility of institutions like the Parliament and the Central Bureau of Investigation has been systematically denigrated in the Narendra Modi-led regime, which he said is making "careful, well-thought-out calibrated effort" to weaken democracy.

Addressing a press conference in Indore, Singh said corruption was peaking in the Modi government.

"The country has witnessed credibility of institutions like the Parliament and the CBI systematically denigrated. There is a careful well-thought-out calibrated effort to weaken democracy," he said.

"The rule of law is under attack. history shall never forgive our present generation if the situation is not changed," he said.

He termed demonetisation as "organised loot and legalised plunder".

"It (demonetisation) is a done act and can't be reverted. It is up to the people to get rid of the government which brought them on this disastrous path," he said.

Singh also accused Modi of misusing the prime minister's post. "It does not befit the PM to abuse political opponents," he said.