Seems that tax collections, both direct and indirect, were sharply up last fiscal. The Finance Minister shows a great deal of satisfaction in announcing this fact to the suffering people of India. So what is happening to all this money extorted out of the tax payer? For a start an astronomical amount is being thrown away in forgiving bank loans of farmers. This is pure loot and bribe, a shameless cynical ploy to try and win the coming general election by swindling the tax payer. Of course, this does not help the urban poor and the majority of farmers, who have borrowed money from money lenders rather than banks, so farmer suicides have not been reduced. The second use of this money was revealed in yesterday's newpapers. Seems that bllions of rupees are being spent in buying posh, centrally air conditioned properties with tasty restaurants to house tax offices and airconditioned buses to ferry tax officers to work. Got to keep the leaches satisfied to suck more blood. Meanwhile a tax officer in Bangalore has been found to possess one hundred and twenty cars which is officially described as disproportionate assets while millions cannot afford proportionate food. Result of all this profligacy is deteriorating fiscal deficit which in turn has resulted in Standard and Poors threatening to reduce India's sovereign rating fromm BBB to junk. With oil prices threatening to go above $150 it may be prudent to lose the next election.