Putin says constitution should be changed so that Duma has right to confirm cabinet ministers and nominate prime minister and deputy prime ministers and president will be obligated to confirm.
Says this will raise the role and significance of the Duma and political parties.
Says Russia must remain a "strong presidential republic" and president must retain the right to dismiss governors and ministers, retain control over the military and security forces. Says president should consult with the Federation Council when naming heads of so-called power ministries.
"We are duty-bound to defend the memory of our heroes," Putin says as he praises preparations for the 75th anniversary of victory over fascism. Russia has long railed against what it sees as the West's ignorance of the sacrifice the Soviet Union made in World War II.
Putin notes importance of Supreme Court and Constitutional Court. Says constitution must bolster the independence of judges. Says Federation Council should have the right to recommend the removal of judges from the highest courts.
Putin emphasizes that these suggestions should not limit the discussion of possible constitutional amendments. Says that discussion should be as "broad" as possible.
Putin obviously took cues from his advisers to stop denying Russians' stagnating wages this year and finally address the problem.
But the jarring juxtaposition between the tanned officials listening to him in the hall and the poor Russians being targeted by his promised reforms has not escaped the attention of Twitter denizens, who are scathingly mocking the speech and the promises they've heard before.
Putin says Russia faces enormous threats, says constitutional reform must ensure stability and strength of the Russian state and, at the same time, the flexibility necessary for the progressive evolution of society.
Putin says any amendments should not affect the fundamental values of the constitution. Says it will be necessary to hold a referendum on the "entire package of proposed amendments."