"This Lokpal bill does not provide for formation of Lokayuktas, there is no provision for whistle blower protection, and it is not free of the government," said AAP member Prashant Bhushan.
"What is the point of passing this Lokpal bill, it will not stop corruption at all," he said, adding it would only "protect the corrupt".
The govt has said it is committed to the passage of the bill in this session.
AAP leader Arvind Kejriwal, meanwhile, said there was no independence for the Central Bureau of Investigation (CBI).
"They are not making CBI independent in this bill. If this happens, even the prime minister may go to jail in 2G or some other scam," he said.
The Lokpal bill, which was passed by the Lok Sabha and greatly amended by a select committee of Rajya Sabha, was tabled for debate in the upper house Friday.
The bill, once passed by the house of elders, will be sent once again to the lower house for approval.
The government has said it is committed to the passage of the bill in this session, which ends Friday.