Too much to cover up.

Seems that oil companies have a combined debt of Rs 1.4 trillion, up from Rs 1.1 trillion in January this year. Last financial year they paid Rs 105 billion in interest compared to Rs 51 billion the year before. How have they reached such a sorry state? Apparently they are losing Rs 19.26/lit on diesel and Rs 4.85/lit on petrol which, we are told, is due to subsidies on these products. In the US diesel is selling at an average of around $4.2 per gallon which is equivalent to about 3.8 liters. If we take one dollar equal to Rs 55 then the price of diesel works out to about Rs 60/lit in the US, including tax at 13%. Diesel is selling in India at Rs 46/lit which would be Rs 14 cheaper than in the US. However petrol is slightly cheaper than diesel in the US and costs around Rs 59/lit whereas it is over Rs 70 in India. So how are oil companies losing money on petrol? It is because the government is taxing petrol heavily while preventing oil companies from realising their costs. Why would anyone be so stupid? Because raising the price of diesel will instantly feed into inflation which is already running at near 10%. As opposed to inflation due to stealing money on various social schemes, which is disguised as helping the poor and is invisible, this would be blamed directly on the government and would be suicidal in coming elections. Last week Aviation Turbine Fuel was increased by 7.6% adding another Rs 500 to air fares. Already fares have risen 50% since last year, due to totally unjustified taxes, depressing passenger traffic by 10%. Further rise will suppress this even further. Kingfisher is already dead and losses of Air India will mount. Air India has a debt of Rs 400 billion which is being passed onto the taxpayer. The debt to GDP ratio is already over 90% and can only rise further. In an interview Jim Rogers of Rogers Holdings had this to say about India," India has inflation due to its own reasons, not because of international factors like high oil prices." He also says," India for some reason gets better press in the reality. I still have not figured out the Indian press." ET, 3 September. Therein lies the real problem. A docile freeloading press reluctant to speak the truth and expose the crimes of the criminal politicians and the thieving civil servants. In view of such terrible economic problems threatening survival you would think that politicians would be spending all their time in finding solutions. Not so. The Cabinet has decided that people classified as low caste will be promoted even if ineligible. If they are really so concerned for the lower castes should the politicians not set an example of their convictions by seeking out reservation quota doctors when they are ill? Surely that would be the only honorable thing to do. But even now one politician is in the US for " check up ". Fortunately the cover up is being shredded by foreigners to give us a glimpse of the stinking rot underneath. How to get rid of the lot?