This is actually not true. There is a huge gap between revenue and expenditure. Although you can cut down ministrial costs, it is still massive gap. You haven't thought about massive projects India need. A single city requires 10s of blillions of dollars to improve quality of life.
It is true that politicans are corrupt and earn commission before offering contracts. But, this is true in every country. You belive it or not but even in US, Japan and China high profile cases have happened. But, in India, even a peon in a govt office is corrupt. So, it affects everyone. I have seen some politicians coming from very poor background becoming MLAs and suddenly become rich. This mainly happens because overall moral level in India is very low. Even very honest person is sometimes vulnerable if brainwashed. If 95% officers in a govt. office are non-corrupt then even a minister can't do much. So, in developed countries although corruption happen at higher level, it doesn't reflect in the quality of roads. So, people reamin unaffected. In india, 1% of honest officers have to work with 99% corrupt officers. This is because of very low moral levels. My point is you can reduce tax, but that is not long term solution.