Addressing the select gathering at the reception hosted by Australian Prime Minister Tony Abbott and attended by cricket greats like Sunil Gavaskar, Kapil Dev, Allan Border and Dean Jones among others, Modi heaped effusive praise on Australia's sporting culture and thanked his Australian counterpart his "truly generous hospitality".
Modi described his speech at the 161-year-old MCG ground "close to scoring a century here especially against McGrath and Brett Lee" and said, "This memory will stay with me forever."
"Many Indians wake up early on a cold December morning to watch on TV a Boxing Day Test at this magnificent stadium! I know that India has not done particularly well in this ground! But, we won the 1985 Champions Trophy here. And, Gavaskar and Kapil Dev are here!
"As is Laxman, who especially loved to bat against Australia. To speak to you at this historic ground comes close to scoring a century here especially against McGrath and Brett Lee. I met him yesterday. The best I managed was to head the Gujarat Cricket Association," he said.
Talking about the MCG, Modi said it would be a deserving venue for the Cricket World Cup finals 2015 and hope that India and Australia will play that match.
"No business is serious enough to keep an Australian and an Indian from discussing this great game," Modi said.
Before the dinner by Abbott, Modi presented "Skippers" memento carrying replica of Mahatma Gandhi's charkha with three cricket balls signed by him and World Cup winning Indian captains Kapil Dev and MS Dhoni.
He said, "My memorable visit to Australia ends tonight, but a new journey of our relationship has begun."
The Prime Minister also noted that people asked him that isn't it too soon for him to visit Australia after Abbott's recent trip to India "I said I can't say no to my friend Tony".
Modi also told Abbott for travelling all the way to Melbourne to attend the reception.
The panel submitted its report within 70 days although it had till November end to do so. It travelled across the country and held discussions with various stakeholders and experts on these issues.
The panel has also proposed the establishment of a national laboratory which would be under the Environment Ministry as well as proposed an All India Environment Services.
"The third weakness we found was institutional weakness. We have made 3-4 recommendations including a proposed national laboratory under Environment Ministry and proposed All India Environment Service. A new law has also been proposed," Subramanian said.
The panel which also included former Environment Ministry secretary Viswanath Anand, Justice (Retd) A K Srivastav and senior advocate of Supreme Court K N Bhat, reviewed the important green laws enacted between 1971 and 1986.
These laws include Environment (Protection) Act, 1986, Forest (Conservation) Act, 1980, Wildlife (Protection) Act, 1972, The Water (Prevention and Control of Pollution) Act, 1974 and The Air (Prevention and Control of Pollution) Act, 1981.
Asked about the lacunas which the panel found, he said that although the policies were good but implementation was not there and there were huge gaps in the legal framework.
"The registration of cases, investigations and prosecutions were not there. There was gap between pollution officials and police. We have covered all these gaps," he said.
Elaborating about the measures for reduction of inspector raj, Subramanian said that presently there is hardly any monitoring and although some conditions are imposed, they are later forgotten.
"Then some inspector goes and local handling takes place. What we have recommended is that the project proponent now will say this is my technology, this is the amount of pollution envisaged under standards.
"We are not going to verify straightaway...we can do that when we find the need to do so. But generally it will be left there, we will give a conditional approval and the project proponent will give an affidavit.
"Where we find the gaps between what the proponent has promised and what it has done or we feel that there is deliberate misrepresentation..we have also proposed a new law which can take care of it," he said.