Wales will be given more power over transport, energy and elections if Labour wins the general election, the party has said in its manifesto.
An all-Wales policing plan will be launched to give the public a say.
Labour has also pledged "fair funding" for Wales, claiming the Conservatives have cut the Welsh budget by £1.5bn.
Opposition parties accused Labour of failing to come up with a credible economic plan, with continued cuts or higher borrowing than necessary.
Labour leader Ed Miliband said his party will "change the way the country is run and who it is run for" at the manifesto launch in Manchester on Monday, promising its policies would require no extra borrowing.
On powers for Wales, Labour said it was following the recommendations on further devolution by the Silk Commission, which had been set up by the Conservative and Liberal Democrat coalition government.
They also said that, as in Scotland, all powers will be considered devolved to Wales unless specifically reserved.
Responding for the Conservatives, Chancellor George Osborne said: "Today Ed Miliband failed to provide a credible economic plan and nobody will be fooled", claiming a deficit every year would result in "more borrowing, more debt and higher taxes".
Jenny Willott of the Liberal Democrats said: "By failing to set a clear timetable for when they plan to finish the job of balancing the books, Labour is playing Russian roulette with Britain's economy."
She added: "Whichever way they dress it up, their plans would mean borrowing £70bn more than is necessary and would drag austerity out for years to come."
Plaid Cymru candidate Harri Roberts criticised Labour's promise of a "budget responsibility lock", with no new borrowing to pay for its policies.
"With this manifesto, the Labour party locks the door to economic recovery in Wales and other less advantaged parts of the UK," he said.
UKIP's leader in Wales, Nathan Gill, said: "At every opportunity Labour have opposed any cuts to public services, but criticised government borrowing.
"In their 13 years in power they doubled the national debt, yet they criticise the coalition for doing the same. Neither Labour or the Conservatives can be trusted with the economy."
Meanwhile, comedian Eddie Izzard hit the campaign trail for Labour in Cardiff, saying the party was promoting "fairness".