- 14 hours ago
The National Eligibility cum Entrance Test (NEET) undergraduate examination has been cancelled following a widespread paper leak, prompting a Central Bureau of Investigation (CBI) probe.
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00:01Good evening, hello and welcome. You're with the news today, your primetime destination news,
00:06newsmakers, talking points. Let's tell you what's the big talking point this Tuesday night.
00:11NEAT paper has been leaked yet again. The examination cancelled. Lacks of students
00:18now face uncertainty once again. Will heads roll over the NEAT mess. Among my guests
00:24will be the director of the National Testing Agency. We'll also be looking at just why markets
00:31are so spooked by Prime Minister Modi's austerity call. Among my guests, market guru Nilesh Shah
00:38will join me. So we've got plenty, as always, to look forward to. But first, it's time for the
00:45nine headlines at night. The NEAT undergraduate exam is cancelled after a paper leak. Two suspects so
00:53far taken into custody. CBI registers a case, begins a probe. Sources say at least 150 students
00:59got the leaked paper in Rajasthan. A nationwide network is being exposed.
01:07Political war escalates over the NEAT exam leak fiasco. Opposition slams centre for repeated
01:14mismanagement of exams. NTA DG tells India Today, he is responsible, assures that the culprits will
01:22be punished. It's nine days since the announcement of the Kerala results in a Congress sweep but
01:31no decision yet on the Chief Minister. Marathon meetings continue in Delhi. Former Kerala Congress
01:37President K. Murali Dharan says, decision likely tomorrow. Controversy rubs after Tamil Nadu
01:46Chief Minister Vijay appoints his astrologer as officer on special duty. TVK ally, CPM Congress,
01:53VCK call the decision unacceptable. Ask Vijay to reconsider the move.
02:00Big split in AIDMK. Tamil Nadu Chief Minister Vijay meets AIDMK rebels ahead of crucial floor test.
02:08SP Velumani chosen as AIDMK legislative leader after he openly backs Vijay Palani Sami has been isolated.
02:17Hemant Abhiswa Sarma sworn in as Assam Chief Minister for a second term. Four ministers also take over.
02:24Prime Minister Modi, top union ministers, attend the swearing-in ceremony.
02:31Vladvart continues on Dalal Street. Sensex Nifty continues to fall. Rupee also tumbles to a new low amidst volatile oil
02:40markets.
02:43Amidst escalating tensions in West Asia, Pentagon officials says Iran war cost them $29 billion so far.
02:51Trump disapproval ratings plunged to also jumped to 72% amidst peace talks deadlock.
03:00And Delhi High Court issued a notice to the centre over pleas seeking directions to ensure the 2026 FIFA World
03:07Cup is broadcast in India.
03:09There is still no broadcast in the country with the tournament set to start in June.
03:29But the big story that we are breaking at the moment, Rajasthan police has now handed over the names of
03:34150 students and 70 parents
03:38who have got the leaked papers, the leaked guest papers in the crucial pre-medical NEET undergraduate exam.
03:46Two suspects have been arrested so far.
03:49Suspects are Shubham Khernar.
03:51He's been arrested from Nashik where reportedly the scam began then spread to Rajasthan.
03:56The paper was allegedly bought by Khernar for 10 lakhs and then he further sold it for 15 lakhs to
04:04a Haryana-based buyer.
04:06Another suspect, Yash Yadav, has been held from Gurugram.
04:10There is also a suspect who's been held in Rajasthan.
04:14So it's a nationwide network that is being exposed in India's largest exam.
04:19And Divyesh Singh is now joining me at the moment from Nashik.
04:23Divyesh, what are you picking up?
04:25How did this paper get leaked?
04:27Nashik has a printing press.
04:28Was it leaked during the printing or during transportation?
04:32How was it leaked?
04:38Well, Rajdeep, primary interrogation that has been done with Shubham Khernar,
04:43the accused who has been nabbed from Nashik, he allegedly sourced the paper from another person
04:50who he claims, as per his claims, is based in Pune.
04:54This was sent through a messenger app and after that, Khernar bought this paper or the guest paper
05:00for around 10 lakhs, further sold it for 15 lakhs.
05:04That is what he has revealed in the initial questioning with the Nashik police, with the Nashik crime branch.
05:10Also, regarding the paper being printed in a press in Nashik,
05:16police officials have said that Khernar during testing has denied that the paper was ever printed in Nashik.
05:25But it needs to be corroborated further.
05:28Further investigation will be done by the CBI official.
05:31CBI team has just reached Nashik crime branch and they have started questioning Shubham Khernar.
05:38Shubham Khernar, remember, is a medical student.
05:41He is a final year BAMS student and was practicing, was due for his final year practice
05:49and that is why he was put up at Nashik.
05:52He is pursuing BAMS from a medical college in Madhya Pradesh, Sihor.
05:58But since past six months, he was in Nashik.
06:01Also, he suspected that he could be nabbed and that is why he had changed his appearance.
06:06He had shaved his head, he had changed his clothing and with the help of technical surveillance
06:12and intelligence inputs, police officials after receiving the tip-off from Rajasthan,
06:17SOG Nashik crime branch officials this morning nabbed Shubham Khernar.
06:22He remains in the Unit 2 crime branch where CBI officials have just reached a while ago
06:28and they have started questioning Shubham Khernar regarding the source of the paper.
06:34Shubham Khernar, initial questioning, during initial questioning,
06:37had said that he had shows the paper for Rs. 10 lakhs from a person based in Pune.
06:47Right, so Shubham Khernar seems to be now the prime suspect.
06:52Remember, all of this comes against the backdrop of repeated paper leak controversies.
06:57Two years after the NEED 2024 controversy had triggered outrage,
07:01the government had promised to plug all the loopholes.
07:04Guess what?
07:05We have another major paper leak of an examination where lakhs of students appear.
07:11This time, the National Testing Agency has acted swiftly,
07:15cancelled the entire exam and promised a retest to all the students at the earliest.
07:21Why are India's examination systems finding themselves caught up in one controversy after another?
07:29Who will be held accountable?
07:31Will heads roll.
07:33It's our top story tonight.
07:43Two years after the NEED 2024 scandal shook the country with allegations of paper leaks,
07:49race marks and inflated scores, history has repeated itself.
07:55And India's biggest medical entrance exam stands cancelled once again.
08:04Over 22 lakh students walked into exam centres on May 3rd, believing that this would be a fair fight.
08:11Tight security, strict frisking, surveillance, multi-layer checks.
08:16But behind the scenes, investigators now suspect the paper may have already been leaked and circulating.
08:22The Rajasthan Police Special Operations Group is probing claims that a so-called guess paper carrying over 400 questions
08:31was distributed before the exam and shockingly, many of those questions allegedly matched the actual NEED paper.
09:05It is alleged that all 90 biology doctors,
09:08chemistry questions and all 45 chemistry questions had reached select individuals before the examination.
09:14In Sikar, these papers were allegedly circulated inside coaching institutes as guess papers,
09:21with students being told, questions will come from this only.
09:24Sources claim the paper was resold repeatedly for amounts ranging from 5,000 rupees to 30 lakh rupees,
09:32exposing what investigators now suspect is a highly organised multi-state racket.
09:37The centre has now ordered a full-scale CBI probe.
09:42The Nashik Police acting on information from the CBI and the Rajasthan Police have already taken a suspect into custody.
09:51Shubham Khernar, the suspect, is a third-year MBBS student.
09:55For lack of students, the nightmare begins again.
10:22Fresh dates will now be announced.
10:24No new registration will be required, fees will be refunded and admit cards reissued.
10:30But the bigger question remains.
10:32If India's most high-stakes exam can be compromised twice in two years,
10:38can students still trust the system meant to decide their future?
10:42Bureau Report, India Today.
10:48Let's go straight across to my first newsmaker tonight.
10:51Joining me now is Abhishek Singh, Director General of the National Testing Agency.
10:55Appreciate you joining us there, Mr. Singh.
10:58You've gone ahead, taken a pretty drastic step, cancelled the exam altogether.
11:02Is that an acceptance that the entire examination process was vitiated by these paper leaks?
11:07What is the message you're sending out by cancelling the entire exam?
11:15You see, we were committed to, we had made this commitment to all the students,
11:19to all the parents, to all the stakeholders,
11:21that it will be a zero-error exam with zero tolerance for any malpractice.
11:25And when we got this complaint after the examination,
11:29that something had gone wrong, we investigated it.
11:31When a small percentage of that was also found to be true,
11:35we went ahead with the promise that we had made,
11:37and we cancelled the examination.
11:38And we ordered a CBI inquiry.
11:42But, but, but, sir, but, but, but, but, Mr. Singh,
11:45there seems to be something fundamentally wrong here with our examination system.
11:49This is happening time and again.
11:50You've gone through competitive exams.
11:52In 2024, a parliament report suggested
11:56five of the 14 nationwide exams connected,
11:59conducted by NTA resulted in paper leaks or irregularities at least.
12:04So, this is not the first time there is something fundamentally wrong, Mr. Singh.
12:12See, see, that is why we have taken this corrective action.
12:14We have ordered a CBI inquiry to find out who is responsible,
12:17where it is responsible, what corrective action more needs to be taken.
12:20So, till we fix that, we cannot rest, we cannot rest.
12:24So, the commitment of the government is to make it a zero error,
12:27make it a zero tolerance for any malpractice that is there.
12:31We will get to that.
12:32We will identify who all are involved in such malpractice.
12:35We have appealed right before the examination.
12:37We appealed to the students, parents, everyone,
12:39that if anybody is trying to fool, trying to sell question papers,
12:43please do report.
12:43We got multiple such reports.
12:45Most of them were fake.
12:46We suspended 122 telegram channels.
12:48And we would urge upon all stakeholders to not let these scamsters
12:54thought the resolve of the government to conduct an error-free examination.
12:58And if anybody does that, we will definitely take very, very strong action.
13:04Mr. Singh, with due apologies, I have heard these words before.
13:08Zero tolerance, zero free.
13:09We heard them in 2024.
13:102024, the action on the ground doesn't seem to match the words.
13:15Again, a major exam affecting lakhs of students has to be cancelled.
13:19Surely, there is something somewhere wrong.
13:21Is it in the printing process?
13:22Is it in the transportation?
13:24Why is it that there are flaws in the system that are being exploited repeatedly?
13:30I will not prejudge the CBI inquiry.
13:32CBI is well competent to look into all aspects of the conduct of the examination.
13:37And wherever the flaw is, wherever the error is, wherever the mistake is,
13:40wherever the criminals are acting in, that will be identified and action will be taken.
13:48But, sir, what has, I ask you again, what has changed between 2024 and 2026?
13:53When there were irregularities detected in 2024, a committee was appointed.
13:57There was even recommendations that make it all computerized.
14:01What has changed?
14:02What are the terms of corrective that you can tell us that you all have done in two years
14:06to ensure a zero free examination system, Mr. Singh?
14:11See, like, it's unfortunate that the similar thing has happened.
14:15The scamsters have changed their tactics.
14:17They have done something different.
14:18But the real point where what went wrong will be out with the CBI inquiry.
14:24But we can only say that we were completely, we have this resolve of committing a zero error
14:30examination with zero tolerance for any moral practice.
14:33So that is what we are committed to and that is what we will ensure.
14:38No, sir, what, what, I want specifics, sir.
14:41What will you change?
14:42What will the NTA change to ensure this doesn't happen again?
14:46Lacks of students, their parents, what they've gone through.
14:49My son is a doctor.
14:50He went through the need.
14:51It puts a lot of pressure on parents and students.
14:54So what is it that you haven't done that you need to do so far?
14:58Or is it that, what are the solutions at the end of the day?
15:02Do you and the NTA now need to be proactive instead of always after the event acting?
15:08You need to be proactive to ensure and plug the loophole, surely.
15:15I agree that we need to be proactive.
15:17We need to be one step ahead of the scamsters.
15:20But in this instance, what went wrong, where it went wrong, I will not like to prejudge the CBI inquiry.
15:27Had I known what went wrong, this would not have happened.
15:30So let the CBI come out with this report and definitely corrective action will be taken.
15:34The guilty will be punished.
15:36What about reports that have come up in the past about the role of coaching centers, where the stakes are
15:41very high?
15:42Will they be made more accountable the way the systems are operating?
15:46Because somewhere in the system seems to have been exploited, as you said, by scamsters.
15:51What is the source of these leaks?
15:53Where is it all starting from?
15:57Again, I will not prejudge the CBI inquiry.
15:59Let the CBI do a fair inquiry without any prejudice to any stakeholder who might be involved.
16:05I would not like to pass any judgments before the CBI has completed this inquiry.
16:10But is it Mr. Singh, is it not somewhere a governance failure, somewhere down the line an administrative system failure,
16:18if it starts happening again and again?
16:21Will you accept that there is a governance administrative failure or not?
16:27These are like two big words, Rajdeep, linking it to governance and all.
16:31Yes, the crimes do happen.
16:34People do, like the laws are there, administration is there, governance is there.
16:37And that is why police and administration is there to catch hold of whenever a crime happens.
16:42This is equivalent to a crime.
16:43The job of CBI is to investigate and do that.
16:46We do live in a world in which there are criminals, there are scamsters, there are fraudsters who are operating
16:52in multiple ways.
16:54And our job is to ensure that we are able to catch them, we are able to punish them.
17:01What, Mr. Singh, though, is your message to the students, many of whom will now go through the trauma of
17:06having to do such a competitive medical exam all over again?
17:09What is your message to those students who today are angry and outraged by what has happened?
17:16They feel cheated.
17:19My message to the students is only that please don't fall for such scams.
17:25Please don't get into the greed of buying your way to a medical seat.
17:30Work on your efforts.
17:32Focus on your studies.
17:34If there is anyone who is offering anything, please do report.
17:37Please join NTA's efforts in trying to make an error-free examination.
17:41There are multiple things that contribute to these elements prospering in the society.
17:46There are people who give credence to these antisocial elements.
17:50We will have to identify that.
17:51NTA is committed towards that.
17:53Parents and students also need to.
17:55We share the anguish and we share the anger of students.
17:58That is why we have decided that in the repeat examination, we will not be charging any fees.
18:02Given the fees that we charge for the first examination, we are refunding.
18:05So, we are taking complete responsibility.
18:08We are together in this within our resolve to conduct a zero-error examination.
18:12And we will urge upon all key stakeholders, all law-abiding students and parents to join in our endeavor to
18:19make it a zero-error examination.
18:22I am glad you are taking responsibility, not evading it.
18:25But I will still ask you, what will you tell the honest students?
18:28Forget about those who are scamming their way to medical seats.
18:31The honest students.
18:32You know, you have said, avoid grease, stay away from the scamsters.
18:36But the honest students, they are the ones who are suffering.
18:39What is your message to the honest students who are losing faith in your system?
18:46So, this examination, this tough call that we have taken is in the interest of the honest student.
18:50Let not, as scamsters, let not somebody who has paid for a paper take away the seat of the honest
18:55student.
18:57So, the NTA and the government is committed towards the interest of the honest student.
19:00And we will do everything possible to ensure that their rights are protected.
19:05And in no ways anyone tries to thwart the efforts that are made by the honest students.
19:10We want them to benefit.
19:11We want a fair examination and we will ensure that.
19:16Okay, I appreciate you joining me there, Abhishek Singh.
19:20You are one of the few bureaucrats who comes and at least takes the questions.
19:23Thank you very much for joining me, the Director General of the NTA.
19:27Big questions though have to be raised.
19:29Let's widen the debate.
19:30Neat Paper League, who is to blame here?
19:33Will heads roll over the neat chaos?
19:35How does one avoid a repeat of these year-by-year leaks of major papers?
19:42Should neat be computer-based tests?
19:44Is that a solution?
19:46Joining me now, Sujata Rao joins me, former Health Secretary, Government of India.
19:50Yashavarda Nazad, former IPS officer is with us.
19:53Nitin Kukreja is CEO, Allen Career Institute.
19:56And two students, Divya Mishra, Neat Aspirant 2026 batch.
20:00Shailaja Verma, Neat Aspirant 2026 batch.
20:03And I want to come to the students first.
20:05Diyah, you tell us.
20:06You heard what the DG said.
20:08He said, please have faith in the system.
20:11Do you have faith in the system or are you losing faith, Diyah, when you heard that the exam had
20:15been cancelled?
20:17I've already lost the faith in the system.
20:19He talked about correcting and making the examination error-free.
20:26But what about prevention?
20:28Once done mistake, when the mistake, once done is a mistake, twice done is a choice.
20:36Choice of carelessness, choice of leniency, choice of not preventing the paper leak.
20:47But Diyah, the government is saying they will give you a retest in a few days' time.
20:52It will be free of charge.
20:53You don't have to reapply.
20:54You can just go and do a retest.
20:56You will presumably, you want to become a doctor, so you'll do the retest, no?
21:00Of course I will.
21:01But what about the mental exhaustion they are putting us in?
21:06Repeating the cycle of mental pressure again.
21:09What about regaining the momentum that we have lost in this margin of 10 days?
21:15It is a lot for us who have been preparing an entire year with diligence and honesty.
21:22We have been betrayed again and again.
21:25This is the second time this is happening.
21:31I take your point.
21:32Shailaja Verma, you are also a NEET Aspirant 2026 badge.
21:35Your thoughts.
21:36Do you believe that you still have faith in the system?
21:39That there are, that these campsters are an isolated group?
21:42Or are you losing faith in the system when you do a major exam like NEET
21:46and find that the exam is cancelled because of a paper leak?
21:49Sir, after seeing the decision that NTA took to cancel the NEET,
22:01I have started gaining...
22:10Sorry, sir.
22:12I believe in this system now.
22:18No, no, no, no.
22:19I am getting a bit nervous.
22:21You know, we first need to change your super.
22:23But yeah, do you feel angry or disappointed?
22:30Do you know your feelings?
22:33Sir, actually, I am from 2024, so I have seen a paper leak at that time also.
22:42But sir, at that time, results were published very earlier.
22:46So there was no scope of re-need.
22:48But this time, NTA took a very good response.
22:52They took this very...
22:55They took this forward.
22:58They listened to students.
23:01And yes, I believe in the system now.
23:05So I guess the mal practices will be eradicated.
23:09So you're saying, you're saying, Shailaja...
23:13Okay, so you're saying you're happy that the paper has at least been cancelled?
23:18That the marks have not been given?
23:20And therefore, you have some relief.
23:21I'll come back to both of you in a moment.
23:23Sujata Rao, former health secretary, government of India.
23:26Something is rotten in our medical examination system.
23:30Where is the rot?
23:31Where is the rot according to you, Sujata Rao?
23:35I think it's a systemic failure, totally.
23:39And 2024 was a very major wake-up call.
23:43There were 70 leaks before that.
23:45They didn't learn.
23:462024 went up even to the Supreme Court where the CGI himself heard the case.
23:51And he then said that even if there's one case of cheating, I will ensure that the exam is cancelled.
23:59155, he himself admitted in his order, had benefited due to cheating, but he didn't cancel the order.
24:06Then a Radhakrishna committee is appointed and they gave 101 recommendations.
24:10The first one was to say, please do online testing.
24:14Even that has not been implemented.
24:16And I don't.
24:17I mean, maybe, you know, I've retired, so I have no access to inside information.
24:22But I don't think anybody was really held accountable post-24 scandal.
24:29And I take serious objection.
24:31Now, again, 26, it has happened.
24:32And I'm positive it will happen again after one or two years more.
24:36There's no doubt in my mind.
24:37Because nobody's inquiring.
24:40You just heard the DG.
24:41No, but where is the flaw in the system?
24:44Look, there is...
24:45Where is the flaw in the system?
24:46When I asked the DG, they say they are the implementing authority.
24:49The rules have to be set by the ministry.
24:52Who sets the rules for these exams?
24:54Who decides that we shouldn't have computer testing?
24:56We shouldn't go online, for example.
24:58No, no, there are two issues.
24:59One is computer testing that, of course, the ministry has to set.
25:02But once a paper examination is held, there's a whole process.
25:06After all, the leaking must have taken place from the person who set the exam,
25:10from the printers, from the people who are carrying it to the exam center.
25:14There are so many points.
25:16And it's your duty to ensure each one of those points are covered adequately
25:20and ensure the sanctity of the examination.
25:24So one can't really absorb oneself of that responsibility.
25:28of implementation.
25:29So what I am trying to say is that...
25:31No, but who...
25:32Where does the bug stop?
25:33Where does the bug stop?
25:35Well, the bug stops with the NTA.
25:37The bug stops with the NTA.
25:40They are conducting the exam and they have to take the responsibility for it.
25:45And I feel sorry for the DG because, I mean, he's a young colleague of mine.
25:50I certainly understand his predicament.
25:52He's just coming to the job two months ago.
25:55He has never worked in education sector before.
25:57He's an IT expert.
25:59And I'm sure once online comes, he's going to be a great asset to the system.
26:03But to understand this whole ecosystem of conducting such a big exam,
26:08you need to be on the job for a minimum of eight months.
26:11How could you appoint a DG two months before and expect him to deliver results?
26:16So somewhere the whole governance structure is, I'm afraid, failing, you know, because I tell
26:23you as an IIS officer, the best of me, it would take me three to six months to understand the
26:28whole subject, even though I'm familiar with it.
26:31So somewhere, I think this is, so I would let only, yeah, sorry.
26:40Yeah, Rajiv.
26:41No, you make a good point.
26:42You make a good point of governance.
26:44Why is, why is someone appointed to a key post?
26:47Abhishek Singh is a fine officer.
26:48But to bring him just before the examination, you're saying it takes time to understand
26:52the system.
26:53These are all questions, governance questions.
26:56Yeah, governance questions.
26:57Yashu Vardhan Azad, there's governance on the one side.
27:00You heard the DG saying, scamsters are a step ahead of us.
27:04We still don't know where the leak happened.
27:07Some say it came through WhatsApp messages and there was a telegram, which on the app telegram,
27:14the paper was leaked.
27:15We still don't know that.
27:16But it seems a nationwide racket.
27:19Can the police actually crack it?
27:21Do you believe these or is it or are the scamsters a step ahead of everyone?
27:27Rajiv, let us put the whole thing in perspective.
27:30It's not a police case or anything.
27:32And it's unfortunate.
27:33First of all, let me say that NTA is a third rate organization, if not fourth rate, because
27:39since 2017 that it has been created, out of the 15 major exams it conducts, there have
27:47been leaks in at least six major exams, which barely just shows that it should be thrown out.
27:53If you can throw out the planning commission and bring NITI Ayo, throw out the NTA.
27:58That is number one.
27:58Number two, there are huge areas where lapses may occur.
28:04There is a last milestone, what they call the last mile connectivity, the last inch connectivity.
28:10If you look at the high powered committee report of 2024, it clearly laid down certain rules.
28:18Now look at what happened in 2024 when a civil engineer from Jharkhand brought out the paper
28:25from the bank or wherever it was.
28:28So the question is, it's not the CCTV, GPS-enabled trackers.
28:35It is where the leaks can occur.
28:37Another thing, for example, Rajiv, Seeker is a center where out of 50 exam centers, out of
28:4740, the people got the maximum exams, maximum marks, for example.
28:53Was this looked into?
28:54Two, I'd be very much interested as if the new centers were again located in Seeker.
28:59Number four, the issue is that if you have an NTA, it's not a question of you don't need
29:05an experience of the education ministry.
29:07You need a guy on the ball.
29:10And what you actually need is when these papers are going in China, for example, they get the
29:16security, which is even higher scale than when you take the cash for banks.
29:22If a situation is that important and critical for 24 lakh students, then you should advocate to it
29:30the same importance and use your CAPF.
29:33Or if CAPF you can use 2.5 lakhs for the elections, then you can certainly use CAPF for these
29:40exam
29:40centers.
29:41Another thing which I want to tell you is that the coaching institutes are bringing out.
29:47It's a very important point.
29:49The coaching institutes, because there is a terrible gap here.
29:54However, the coaching institutes are under tremendous pressure to get their guys elected.
30:00For that, they will use Saam, Dam, Tandabhed.
30:03Then there are senior IAS, IPS and ministers who want their kids into the medical.
30:09And that's why they use the facility of these campsters.
30:12And that is why some of those people named by the EOW in the last...
30:17You're making very serious allegations when you say, you're making very serious allegations
30:22when you say senior IAS officers want their children to go through NEAT and therefore could
30:26be hand in glove with the scamsters.
30:28We don't have proof of that what we do.
30:30And I want to therefore bring in my guest who's joining me from one of India's leading
30:34coaching center, Nitin Kukreja, CEO, Allen Career Institute.
30:38Is there a coaching center angle?
30:39Are the stakes just very high in an exam like NEAT to get as many students passed?
30:45Do you know where is there pressure to try and get the paper out somehow or the other?
30:51Look, I have not faced any such situation or any such pressure.
30:54The reality of the situation is that there is a certain number of finite seats, whether
30:59in the engineering side or on the medical side.
31:02And the number of applicants are going to be higher than the number of seats.
31:06And therefore, there will always be people who are looking for training, guidance,
31:09some sort of an edge to go out and be able to qualify for these seats.
31:17That's the role that the coaching institutes play.
31:20People who have deprived backgrounds, who don't have the geographic advantages that the
31:25metro cities offer, go to the coaching institutes to get that equalization in place.
31:32That's the reality of the situation.
31:34Now, let's come to the situation at hand.
31:37This is unfortunately repeated from 2024.
31:40And the only lesson that we seem to have learned is that we've taken and the NTA,
31:45I must commend the NTA for actually acting quickly to take a decision and saying the exam will be
31:50reconducted.
31:52Unfortunately, in 2024, that decision, there were just all sorts of rumors and things flying
31:59around and causing all sorts of uncertainty.
32:02The fact is that the structural piece needs to be fixed.
32:06And when you conduct a one-time pen and paper exam for 23 lakh children, there are always going
32:15to be risks of leaks because, rewind back to 2024, the NTA said that more than 2 lakh people
32:22are involved in the conduct of the exam.
32:24When you have more than 2 lakh people involved in the conduct of the exam, a leak can happen
32:28from anywhere.
32:31Unfortunately, the solution is staring us in the face.
32:36It has been recommended by the committee from 2024.
32:41And the committee said very specifically that please implement all of these in totality.
32:46Don't implement it in bits and pieces.
32:48The solution that is before us is that just the way the JE exams are conducted, please conduct
32:54the NEET exam also.
32:56Coincidentally, it's the NTA that conducts the JE exam also.
33:00All you need to do is break it into parts, stage 1 and stage 2.
33:07Stage 1 is held in multiple sessions.
33:09It's a computer-based exam.
33:12The risk of a leak therefore gets contained to if someone hacks a server or a computer.
33:18I'm sure if someone does that, they'll leave a footprint behind.
33:22But what you've done is you've reduced student stress.
33:25It's not a one-time shot they have.
33:27They have multiple attempts to get better, to improve.
33:33It's a computer-based exam.
33:35The risk of leak is minimized.
33:36And when you chop it into various parts, like the JE main exam is done, even if in the
33:41odd chance that there is a leak, it's contained and it's not spread over all the students.
33:46It's contained only to a specific number of students for which you can reconduct the exam.
33:50So, the solution to me is staring us in the face.
33:55We just need to implement it.
33:56I agree.
33:58Right.
33:59You've made your point, Yashawarta Nasa, the quick response.
34:03You were shaking your head.
34:05You don't believe this.
34:06There is a need.
34:07There are reforms.
34:08There's a committee report.
34:09And the government has sat on it.
34:11By all indication, they've not acted on that report, the Radhakrishnan committee report.
34:16You know, it's not a question of committees.
34:18It's not a question of recommendation.
34:20It's a question of how you act when you're the NDA chief.
34:24You should realize that the leaks today are occurring at the last inch.
34:28Connectivity.
34:29That's where you have to get into.
34:31You see, analyze the leaks from before.
34:33Where have they happened?
34:34They've happened from the bank wards.
34:36They've happened from the places of the exam centers.
34:39It's because of the instituted mafia over there.
34:42What I said was not IAS officer.
34:44I said ministers, IAS, IPS and all the influential people who put pressure.
34:50And that's why the coaching institute mafia is still functioning.
34:53The EOW had cracked some cases.
34:56What has happened in 2024?
34:58The charge sheet has even just now been filed.
35:01You see, unfortunately, we are today talking about CBI.
35:07It's a great achievement.
35:10We should talk about the prevention.
35:12Who is to be blamed for all this?
35:16These are the hard questions you asked.
35:17I never got a reply.
35:19I think Mr. Kukreja.
35:20No, no, Mr. Kukreja.
35:22No, Mr. Kukreja has at least offered a constructive solution.
35:25You need solutions to crack this.
35:27I just want to bring in Diyamishra again.
35:29Because at the end of the day, the students…
35:31The more exams you have, the more you have.
35:34That's your view.
35:35You don't believe.
35:35But at least someone…
35:37Either way, it is…
35:40Okay.
35:41Either way, we need solutions.
35:43I need Diyamishra at the end to tell me, Diyamishra, as a young student,
35:47what will you tell those who want to become doctors?
35:51You want a different kind of exam or you are okay with the NEET?
35:55No, I want a different kind of examination.
35:58Like JE is held in CBT platform in chunks.
36:03I would want it like that.
36:04Giving chance twice in a year to improve, as Sir said.
36:09I want it like that because the chances of paper getting leaked is very less
36:15when it comes to computer-based examination.
36:18And I would prefer it like it used to happen earlier.
36:21AIP, PMTs and CPMTs separately done for the students who are not prepared well
36:30to be separated in the first round itself.
36:35Even UPSCs, the examination of UPSCs are done using paper and pen.
36:41But there's no leak in that.
36:44Gaokao done in China.
36:46There's no leak in that.
36:47Why is NEET always getting leaked?
36:54I think I take your point.
36:55I think you've said it very strongly.
36:57I hope someone out there is listening.
36:58I hope Dharmendra Pradhan, HRD minister, is listening.
37:02He's a master when it comes to elections,
37:03but he needs to now focus on what is his core,
37:07which is as the education minister of the country and get this right.
37:11I thank my guests for joining us on the show.
37:13So I want to give you my take at the moment because I say this today both as a father
37:18of a doctor
37:19and a proud Indian citizen.
37:21No nation, listen carefully,
37:23no nation can become fully vixit when its students are trapped in a cycle of paper leaks,
37:29exam scams and cancellations year after year.
37:33NEET cancelled again is not just a system failure.
37:36It is the theft of millions of young dreams of Indians.
37:40A country that cannot protect its exams cannot claim to be building its future.
37:46For lakhs of middle class families, these exams are not just tests.
37:50They are years of sacrifice, coaching fees, anxiety and hope.
37:55When corruption repeatedly defeats merit and the system refuses to change,
38:01the message to young Indians is chilling.
38:04Honesty works less than manipulation.
38:07The government has done well to cancel the exam,
38:09but it needs to tell us what is it doing to fix the problem.
38:14We cannot afford to have any more leaks like this again and again.
38:18This, my friends, is the real national crisis.
38:21It's a crisis of governance and yes, of ethics.
38:26Think about it.
38:28Okay, I want to turn from there to our other big talking point today
38:31because two days after the Prime Minister gave a call for austerity and tightening of belts,
38:37well, the markets are not responding well.
38:40The Sensex is down once again.
38:43In fact, for the last four consecutive days,
38:45the Sensex has lost more than 3,400 points.
38:49And today, too, the Sensex was down by almost 2%, as was the Nifty.
38:55We're seeing a major change, a drop in the markets.
38:59What explains it?
39:00What lies ahead?
39:02People are worried.
39:03Why is the Prime Minister's austerity message spooking the markets?
39:07Let's go and meet my next guest.
39:11So, why has Prime Minister Modi's austerity appeal spooked the markets and what lies ahead?
39:18Joining me now is Nilesh Shah.
39:20He's a member of the Prime Minister's Economic Advisory Council,
39:23also Managing Director at Kotak Mahindra's Mutual Fund.
39:27I appreciate you joining us, Nilesh Shah.
39:303,400 points, the Sensex, in four days.
39:34And particularly since the Prime Minister spoke of austerity and the need to tighten the belt,
39:41the markets don't seem to have taken that kindly.
39:44What do you believe is happening?
39:46Is there panic in the market after what the Prime Minister said?
39:49I think market is more focused on emerging and developing geopolitical situation.
39:57Undoubtedly, India is vulnerable to shocks coming from geopolitical side.
40:03Oil prices have bounced back into triple digit.
40:07Rupee has depreciated.
40:10FPI selling is continuing.
40:12Put all these things together, markets have corrected.
40:20No, you're calling it a correction, but it's much more than a correction.
40:24And since the Prime Minister made that appeal, amidst the geopolitical tensions,
40:28the concerns are growing that growth could slow down, inflation could rise,
40:33we could have an oil price hike in a few days from now.
40:36All of that is adding to the uncertainty.
40:39Do you believe that the Prime Minister's appeal in a way, as I said at the outset,
40:43has spooked people?
40:46It would have spooked certain jewellery stocks,
40:49as Prime Minister appealed for avoiding unnecessary purchase of gold.
40:56But it's not as if market was unaware that there is a fiscal burden building up
41:02because of higher oil prices.
41:04My feeling is that market is more focused on what President Trump is doing.
41:11And as he mentioned, that Middle Eastern ceasefire is on life support.
41:16Market had to react to triple digit oil prices.
41:24Now, so it's interesting you're saying that the focus is on what Donald Trump does or does not do.
41:29But you just mentioned gold.
41:30And you've interestingly in the past written that you believe the gold assets
41:35could be monetized in some way.
41:38Do you believe the Prime Minister saying don't buy gold, for example?
41:41Is that again sending out the wrong message?
41:44What does one do, given that Indians do have this penchant to save gold or to buy gold?
41:52So essentially, there are multiple ways in which we can monetize gold.
41:56One thing which has taken off quite nicely is financing against gold.
42:02We have seen about 6 lakh crore worth of outstanding in gold loan financing,
42:07where small businessmen pledge their gold, take short-term money.
42:11And whenever business need is meet, they unpledge the gold.
42:16Now, can we move towards gold recycling?
42:19We are one of the largest owner of gold in the world.
42:23Can gold be recycled?
42:26Can gold be like stock put into lending and borrowing mechanism?
42:31Or can there be gold monetization scheme?
42:35So apart from differing or delaying the purchase of gold,
42:39we should also focus on monetizing the existing stock of gold,
42:44which is lying in the country.
42:49Now, you are saying we should focus on monetizing the existing stock of gold
42:54lying in the country.
42:55But when the Prime Minister says don't buy gold,
42:57trying to sort of reduce dependence on gold imports,
43:00again, does it not send mixed signals that the crisis perhaps is far deeper?
43:04Our foreign exchange reserves may appear on the face of it strong over 600 billion.
43:12But the feeling is that amidst,
43:15is there something we should be worried about going into the future?
43:19Isn't there a sense that now there is a concern over what happens next?
43:25So should we be worried about rising oil prices?
43:28Answer is undoubtedly yes.
43:30Rising oil prices will impact our inflation and hence interest rates.
43:36It will widen our current account deficit and hence rupee.
43:40And if the burden is shared with corporate India and consumer India,
43:44it will slow down GDP growth and hence equity market.
43:49So overall, it will be fair to say rising oil prices does impact India's macroeconomic variable.
43:56In the past, like the early 90s, when oil prices went through sky,
44:02we had to pledge gold to borrow money and we were on our knees.
44:06Compared to that, we are in a far better situation at $690 billion of reserves.
44:11But should we stop spending unnecessarily on, let's say, foreign vacation
44:17or on purchase of excessive gold or on consumption of petrol and diesel?
44:24Answer is undoubtedly yes.
44:27Every other country which is dependent on oil import is taking corrective action.
44:32Some are declaring holidays during the week.
44:35Some are requesting their citizens to avoid unnecessarily wastage of fuel.
44:41So this is all corrective measure because there is a 10% drop in the global oil supply.
44:48And we are one of the largest buyer of oil in the world.
44:52If there is a shortage, if there is a drop in the supply, we need to take corrective action.
45:01No, but what, Nilesh, you are calling corrective action,
45:05people will match that against the fact that we have at least 10 months of import cover.
45:10The reserves provide India with 10 months of import cover.
45:14Then why send out these panic signals?
45:16Don't buy gold.
45:18Don't go on foreign travels.
45:19All of this, as you know, the worst thing you can do is make people panic.
45:25And that's what seems to be happening.
45:26People are now worried that the crisis could be far worse than may have been imagined.
45:32So essentially, it is our job to give data to people and facts to people
45:37and show them this is tightening the belt.
45:41This is not necessarily panic reaction.
45:44We have foreign exchange reserve.
45:46But the world is running short of almost 10 million barrels of oil a day.
45:52No matter what price we are willing to pay,
45:55that 10% shortfall in quantity will remain.
45:59So we need to take corrective action.
46:02If through efficiency and productivity,
46:04we can reduce our oil consumption by 10%,
46:07life will be as good as it was when the oil supply was higher.
46:15You see, the worry, Dilesh is, and you know this better,
46:18there's been an FII outflow.
46:20FDI hasn't been coming in to the extent that it was in earlier times.
46:25It's not just about what's happening in the Gulf.
46:28Even predating that, there was FII outflows.
46:31The question is, what explains this?
46:35Is there a lack of confidence?
46:36Is there concern?
46:38What explains the fact that it appears that there are mixed signals coming out about the health of the economy?
46:46Macroeconomic fundamentals seem strong, and yet there is this outflow.
46:49So the FII outflow can be attributed to multiple factors.
46:55First, our valuations were running ahead of expectations.
46:59We were trading at almost 100% premium to other emerging markets,
47:04way above our historical average.
47:06Then the artificial intelligence investment trend started.
47:11Unfortunately for India, we neither had a play on AI hardware,
47:15nor we had a play on AI LLM.
47:18After that, the third thing which happened was this oil shock.
47:22We were vulnerable to oil, and the crisis came right at our vulnerability.
47:28Most importantly, FDIs were sitting on profits in India.
47:33And unlike many other countries where going in is easy and going out is difficult,
47:39in India we provide revolving door.
47:42You can come in as well as go out.
47:44Put all these things together, we have seen major outflows from FPI for the last three years.
47:51Just one caveat over here.
47:53Rajdeep, this is not only selling by long-only FPI's.
47:56This is also profit-taking by high-frequency traders.
48:01In many parts of the world, high-frequency traders don't get as open ground as they are getting in India.
48:08So, they are also making tons of profit and taking some money out.
48:12It's a combination of long-only selling for a variety of factors I mentioned, plus HFT trading.
48:23So, let me ask you in conclusion, at least in the short run, do you believe things could get worse
48:28before they get better,
48:29starting with a fuel price hike in a few days from now?
48:32Do you believe the consumer in particular is in for difficult times?
48:36And that's what the Prime Minister was almost forewarning people about.
48:41Undoubtedly, consumption will get impacted as fuel prices at pump level are likely to increase.
48:47We also need to be careful about the El Nino's impact on monsoon and potential fertilizer shortages.
48:55Now, this may not happen, but it's better to prepare for the worst.
48:59And finally, we also have to overcome this entire AI challenge.
49:044 crore Indians work directly or indirectly in IT-related sector.
49:10That has been the growth engine for consumption.
49:14Now, if well-paying job creation doesn't happen in that sector, there will be impact on consumption.
49:20So, we have our work cut out.
49:23We have to manage the geopolitical crisis, then the monsoon, and then the AI challenge.
49:34Let me leave it there, Nilesh Shah.
49:36I think you've given us a sense of what explains the fact that investors in particular at the moment appear
49:43so concerned
49:44and how they're reading the Prime Minister's remarks.
49:47Thank you very much for joining me on the show tonight.
49:52Four states voted last month and the results came out last Monday.
49:58Nine days later or eight days later, guess what?
50:00Three states have got their chief ministers.
50:03Today, Hemant Abhiswa Sarma was sworn in in Assam.
50:07Remember, just two days ago, Talapati Vijay was sworn in Tamil Nadu as the chief minister.
50:13And a day before that, Suvendu Adhikari was sworn in as the chief minister of West Bengal.
50:20In fact, the other chief ministers have already held their cabinet meetings.
50:24There's a trust vote that Vijay will take tomorrow.
50:27And Hemanto also claims that he's got cracking, which leaves open Kerala.
50:33Kaun banega mukhyamantri.
50:35Eight days on, the Congress still doesn't have an answer.
50:38Ramei Chenitala, KC Venu Gopal and VD Satishan all in the race.
50:42Now we are being told that the decision will finally be taken tomorrow.
50:47The question arises, why is this delay taking place?
50:50Why is the Congress, which got such a big majority this time in Kerala, unable to decide on a candidate?
50:57The Congress says it's a more democratic party than the BJP and therefore wants to carry on consultation.
51:03Now that might be true up to a point because the BJP has an all-powerful high command in Narendra
51:09Modi and Amit Shah.
51:11But the fact is, if you can't take decisions on chief ministers for eight days,
51:15the message will go out and a wrong message at times that the party is unwilling to bite the bullet
51:22at times.
51:23Which is why we hope that the Congress sooner or later will give Kerala a chief minister.
51:30Otherwise, it could end up being another case of missing an opportunity to actually ensure wholesome governance.
51:39Whoever becomes chief minister of Kerala, let's hope it's sooner rather than later.
51:45And the factionalism that has bedeviled the Congress in that state is also overcome.
51:50Meanwhile, the BJP chief ministers and Talapati Vijay have got cracking.
51:55I just want to leave you though with Hemant Abhiswa Sarma himself.
51:59Two points here.
52:00The fact is, the Prime Minister tells us austerity.
52:03And there will be those who will argue, if the government is talking about austerity, why do you need grand
52:08swearing-in?
52:09Well, Hemant Abhiswa Sarma had his grand swearing-in and that photograph also attracted a lot of attention.
52:15I don't know when last the US ambassador to India has attended the swearing-in of a chief minister.
52:20But that's exactly what Sergio Gaur did.
52:23Remember a few days ago, Donald Trump even tweeted and congratulated Narendra Modi of winning West Bengal.
52:30Why is the United States so interested in what's happening in our domestic politics?
52:35Well, either way, Sergio Gaur and Hemant Abhiswa Sarma had their photo op today.
52:41Let's leave it on that note.
52:43Thanks for watching.
52:45You stay well, stay safe.
52:47Maybe stay austere.
52:48Tighten your belt.
52:49I'm working from home.
52:51Maybe so should you.
52:53Thanks for watching.
52:54Stay well, stay safe.
52:55Good night.
52:56Shubhra 3.
52:57Jai Hind.
52:58Namaskar.
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