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Would piggy bank savings be taxed?

Exactly, thats the question my son wanted me to answer this morning.  This discussion was triggered when he read a headline from Business Line newspaper,  lying on the bed, about taxes.  He turned back to ask what is tax?  

I,  as a responsible father and Citizen of India, explained to him that tax is the portion of our earnings which we have to give back to the Government for its expenditure on public welfare.  So in his desire to find the "taxability" of his piggy bank savings,  he asked me if his savings comes under the purview of Dr Manmohan Singh, the stop-gap Finance Minister-cum-Prime Minister.  Yes, a real stop-gap !! I clarified to him that his piggy bank savings are safe and he need not worry about the threat from the Government of India.  I think I should have stopped there.  But in my excitement to make him more knowledgeable, I tried to further explain the rationale for taxes. 

I gave an example that there are poor people in our country who needs to be helped by the Government, so we need to contribute to the Government by way of tax.  

Back came the reply, which really astonished me.  "If we have to help the poor people, one day we are going to become poor".  He said this as a sage as if he understood everything. 

I felt that it is really true that with the ways Government is squandering money through various debt-waiver schemes, family welfare schemes and making the majority of the population un-productive, I think we, the tax payers are one day going to become really poor.. Chandrababu Naidu's, Karunanidhi's, Chidambaram's and Manmohan Singh's are swindling my tax money in front of my eyes!! When will this tamasha get over???

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