- 6 weeks ago
The Central Bureau of Investigation has intensified its probe into the NEET paper leak, arresting five individuals and tracing distribution networks across several states.
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00:10Hello and welcome, this is Five Live. I'm Sonal Merotra Kapoor.
00:15Two stories in focus for you today on the programme.
00:20Number one, we keep our focus on the neat paper leak.
00:25The accused we told you yesterday had already been caught.
00:30But today some pictures have emerged. Pictures of him seen with a Rajasthan minister.
00:36Is there a link? Should we read more into it?
00:41How exactly was this massive paper leak carried out?
00:46The one that has crushed the aspirations of so many in the country.
00:51That's story number one.
00:52Story number two for you, we are looking at again the measures that the Prime Minister has asked for.
01:00He's asked all of us to cut down costs.
01:03Also asked us not to spend in foreign currency.
01:07Also not buy gold.
01:09What is that doing to the gold price?
01:11And importantly, what will this mean for Shadis this season?
01:15We'll take a look at that as well on the programme today.
01:17But first up, as always, let's take a look at what else is making news across the country and the
01:23world.
01:26Fresh twists in the neat paper leak case.
01:29Pictures now surfacing.
01:30Showcasing accused with the Rajasthan education minister, Madan Dilawar.
01:36The image is raising serious questions even as CBI probes into the case continues.
01:42Four people have been arrested.
01:44One neat aspirant is in custody as well.
01:46And the spotlight now firmly on possible links.
01:51Links which are available on social media.
01:57All right, also high drama outside the NTA office in Delhi.
02:02ABVP students gathering in large numbers protesting the neat paper leak.
02:07Visuals also show protesters climbing atop police barricades.
02:11Anger on the streets really as frustration among students boils up.
02:15The student political party leaders not leaving any stone unturned here.
02:22Amit concerns over fuel use and government spending.
02:26After Prime Minister Modi cut his convoy to just four cars from 14.
02:32Top ministers are now following suit.
02:34Rajanath Singh, Amit Shah, JP Nadal reducing their convoys to just about four cars from previous fleet of over 10
02:41vehicles.
02:42Sources also say that the move keeps all SPG security norms intact.
02:46Already implemented during the recent visits with no compromise on the blue book protocols.
02:55Also sources say that Prime Minister is asking for greater use of EVs in convoys without fresh purchases across the
03:03country.
03:03BJP ruled states also cutting down ministerial convoys on the ground.
03:07On visible shifts too, the Delhi Minister Kapil Mishra taking a metro.
03:12Bihar Chief Minister Samar Chaudhary switching to an EV.
03:18A blockbuster win for Vijay in the Assembly.
03:21144 votes in his favour, comfortably passing the floor test.
03:25Just 22 votes against the EPS faction.
03:28A clear show of strength and control.
03:30Chief Minister Vijay thanked the allies and asserted his commitment to work for people,
03:34assuring that his government is for everyone, including the minorities.
03:42A quick U-turn in Vijay camp that happened.
03:45The appointment of his astrologer Rikki Radhan as the officer on special duty to the Chief Minister now revoked.
03:51This after strong pushback came from allies who targeted Chief Minister Vijay over the appointment
03:57and asked him not to give space to superstitions, instead promote signs, big schemes.
04:03Social media is having the last laugh here, saying the astrologer clearly did not predict his own downfall.
04:10Also the suspense over Kerala's next Chief Minister, that continues.
04:1410 days on, Congress still undecided.
04:16Confusion in Delhi and growing impatience in Kerala,
04:20even as the state unit chief says an announcement could come today.
04:25The big question remains, what's causing the delay and who will finally be the Chief Minister?
04:32On to the mystery deaths there.
04:34Pratik Yadav, son of Mulayam Singh Yadav and stepbrother of Akhilash Yadav,
04:38has passed away at the age of 38.
04:42Pratik was a well-known fitness trainer in the city.
04:44His sudden demise has sent shockwaves across political and local circles.
04:51Also a major disruption likely across the country.
04:54Over 12 black chemists and drug distributors to go on a nationwide shutdown on the 28th of May.
05:00This call given by the All India Organisation of Kevis and Dragis.
05:04This in protest against the online pharmacies and deep discounting by large players.
05:10A move that could impact medicine access nationwide.
05:13This is on the 20th of May.
05:17Antivirus concerns rising in Europe.
05:19A Spanish passenger from the MV Honduras cruise ship has now tested positive,
05:25taking the total number of cases to 11, with nine lab confirmed.
05:30The death toll remains at three.
05:32Authorities are closely tracking the outbreak.
05:34So far, no case has been identified in anyone other than a passenger on the cruise ship just yet.
05:47All right, the neat paper leak, Rao, is no longer just an investigation.
05:51It is a full-blown national outrage.
05:54In the national capital, anger is spilling onto the streets.
05:57ABVP protests are gathering outside NTA office, raising slogans, pushing past paragrides, even toppling them.
06:04This is not just protest politics.
06:06Remember, we told you this.
06:08Students, aspirants across the country, they are angry.
06:12There is raw, visible, deeply personal emotion that is seen in all these students.
06:19Because for over 22 lakh aspirants, need is not just an exam.
06:23It's a once-in-a-lifetime shot at a career, a career which many say will not be eaten by
06:28AI.
06:30Now, the future is at stake for so many students,
06:34and the government seems to be failing them again and again.
06:39There are also students who have prepared for this, who thought they will finally make it, become the doctor,
06:46the first one in their village or perhaps the first one in their family and finally have those aspirations shattered.
06:52The belief is shattered and the system stands under scrutiny.
06:59The investigation is now widening.
07:02The CBI has now stepped in.
07:04Multiple arrests have already been made.
07:06And the contours of what looks like an organized league racket is beginning to emerge.
07:12Now, one of the key accused here, Shubham Kairnar, now is in custody.
07:17Brought from Nashik to Mumbai will be produced in court.
07:20And investigators are tracking the money trail to actually understand how did the chain of distributions happen.
07:28But what is coming out deeply troubling is that sources point to a structured network.
07:34A pipeline that allegedly begins with access to the paper,
07:39moves through the intermediaries and ends with the buyers willing to pay for an unfair advantage.
07:45From Pune to Haryana, the alleged trail spans multiple states with riddlemen, buyers and facilitators,
07:53all part of a chain.
07:56And at the receiving end, candidates.
07:59Look at that web over there on how.
08:02It's like a full leak network on how this entire thing will be carried out.
08:07But like I said, at the receiving end, candidates who were handed the paper in advance,
08:13turning one of India's most competitive exams into a simple monetary transaction.
08:20And this has implications because it puts people like you all in my life at stake as well.
08:25Imagine doctors who would be coming out if they actually, you know, pass a paper,
08:30pass an exam after giving bribe.
08:32What kind of doctors would they really become later?
08:34And the story does not end there.
08:37Now the big reveal.
08:40Photographs of Dinesh Biwal and Rajasthan Education Minister Madan Dilawar
08:45and the MLA Mahindrapal Meena have also surfaced, giving a new spin to the probe.
08:52But strip away the politics and the core issue remains unchanged.
08:55What happens to the honest student?
08:59The one who studied for months, sometimes years,
09:02and the one who chose discipline over distraction,
09:04the one who believed the system would actually be fed.
09:06They are now on the streets saying, what's going on?
09:10And also they're asking, can we really trust the results anymore?
09:14What if this happens again?
09:15Will there be accountability?
09:17Will it go beyond arrest?
09:19Will there be a systemic change?
09:21And most importantly, can the system really restore credibility
09:25before another batch of students is asked to take the same leap of faith?
09:28This is not just about a leak.
09:30This is about a system under question.
09:32And we are today asking all those questions.
09:36The next report will take you through how exactly the entire paper leak took place.
09:48A multi-state scam.
09:51A paper leak like no other.
09:53Neat exam cancelled and lacks of dreams shattered.
09:59As CBI probe deepens, more skeletons are tumbling out of the closet.
10:04After Shubham Khernar in Naasik,
10:07CBI has nabbed another accused,
10:09Thananjay Lokhande from Maharashtra's Ahilyanagar.
10:13Thananjay is the man who gave the neat papers to Shubham Khernar,
10:17after which the papers were circulated in different states.
10:21Shubham allegedly sold the papers to a Haryana-based doctor.
10:25Shubham Khernar will be taken to Mumbai for further probe.
10:29India today tracked down his flat in Naasik.
10:32Shubham Khernar had gotten the neat paper and he shared it with multiple people.
10:39He purchased the paper for 10 lakh rupees and then sold it for 15 to 20 lakhs to multiple people.
10:47Initially he sold it to a person in Haryana and then to few other people in other states as well.
11:07Later, brothers from Rajasthan's Ramgad, Mangilal Biwal and Dinesh Biwal bought the paper from a Gurugram doctor for an aspirant
11:16in their family.
11:32Meanwhile, possible political links of Biwal brothers has also surfaced.
11:37Photos of Dinesh Biwal with Rajasthan Education Minister Madan Dilawar and MLA Mahindrapal Meena has also surfaced, giving a new
11:46spin to the probe.
11:48Youth wing of both opposition and BJP staged protest demanding action against the culprits.
11:55Politics over the case is escalating, opposition not leaving any opportunity to target centre over the paper leak.
12:02While BJP has promised that culprits will face justice.
12:13The government has been forced to fight against the people of the country.
12:25The government has been forced to fight against the people of the country.
12:40The NEET leak has once again raised serious questions over the sanctity of one of India's
12:51biggest entrance exams.
12:53Can government restore faith of students in the exam system once again?
12:57Bureau Report, India Today.
13:09The NEET paper leak accused Shubham Kednar has been sent to transit remand and the CBI is to take him
13:15to Delhi now.
13:16The CBI will transport Shubham to Delhi on a flight this evening.
13:21The court had remanded him for two days to member of transit custody.
13:25The CBI is scheduled to produce the accused before the Delhi court tomorrow.
13:29That's when the proceedings will really begin and we'll get to know more from our court reporters on what's really
13:33going on.
13:34The CBI also stated that the accused has several accomplices who need to be identified as when and for that
13:41reason the custody is required.
13:48All right, so now that you understand the story on how this happened, let's tell you about the people who
13:56stand to be impacted most by it.
13:58Because an exam does not just get cancelled.
14:01What gets cancelled are aspirations, years of sacrifice and in many cases a family's financial future as well.
14:08Now to become a doctor in this country, it's not just merit.
14:11It's not just about years of relentless hard work, discipline and very often it is enormous financial investment.
14:21And that's what I want to talk about over the next few minutes because that is why this leak hits
14:26harder than most.
14:29Let's break it down for you.
14:30What does it cost to become a doctor in India today?
14:36Let's break it down.
14:38In government colleges, the fees may look affordable, ranging from about 50,000 to 5 lakh a year.
14:43But in private colleges, that number explodes anywhere between 25 lakh to even a crore per year.
14:49And that's not all.
14:50There are years of coaching, nearly 4 lakh a year, we are told.
14:54Schooling costs another 8 lakh annually, all adding up to the burden even before the student enters the medical college.
15:02Post-graduation in government colleges may cost between about 30,000 to 1.5 lakh or so a year.
15:09But in private institutes again, that jumps sharply 8 lakhs to about 25 lakhs per year.
15:13So put it all together and the numbers tell the story.
15:18A full doctor route through government colleges may cost about, government colleges remember,
15:23about 10 lakh.
15:25But in private colleges, it will cost about 1.2 crore or so.
15:30Right?
15:31At post-graduation and the number will climb up as well.
15:35So when the paper is leaked, it's not just about a system failure, it's a direct blow.
15:41To every student who played by the rules, to every family that invested everything that they had,
15:47to every mother who was selling off their jewellery to sort of ensure that there is one doctor in the
15:53family and their future thus is secured.
15:56This is what gets hampered.
15:58Can a system that demands so much out of people, not just in time, effort, money, but years of relentless
16:09work.
16:10Can that system afford to fail like this?
16:13Not once, not twice, but several times.
16:16Who answers all these questions?
16:20That's what we have been raising here on the program and which is why every NEET exam leak or any
16:27leak for that matter really shakes up the very foundation of the country.
16:34Having understood that, let me take this conversation with my colleagues now.
16:38Rohit Singh is now live with us from Patna.
16:40Asim Basi also joins us from Chandigarh.
16:44Asim, I'll come to you first.
16:45The teachers you were speaking with yesterday really broke my heart.
16:48When I heard them, the teachers went on to say that kids have been calling them constantly saying,
16:55they are crying, they're howling, they don't know what to do.
16:59Now, 24 hours on, what's the sentiment like now?
17:04Because on the ground, I'm seeing a lot of political protests.
17:09I know a lot of students feel sorrow and feel lonely.
17:15I'm worried about a mental health impact here.
17:22Well, definitely, it was a big, big setback for the students as well.
17:25The teachers, when the news broke that the NEET has been firstly leaked and then the examination has been cancelled.
17:31As you talked, a lot of financial implications also come into it and people even borrow money to make a
17:37student doctor
17:38and how it has impacted the mental makeup of any student.
17:42We'll talk to the teachers first.
17:44Can I have a name, please?
17:45I'm Ambika.
17:46I'm Zoology lecturer in Helix Institute.
17:48Well, it's been 24 hours now since the news broke that the NEET examination has been cancelled.
17:55A lot of financial implications also go to build a doctor, to prepare a doctor and a lot of hard
18:02work also goes.
18:02Now, what is the mental makeup of the students?
18:05Because yesterday, you said when they called you, they were crying, they were in pain.
18:09What is the situation now and how, as a teacher, you're coping up?
18:12Yeah, see, when we try to break it down, let's see, it's a two-year journey.
18:16Normally, it's a two-year journey, 11th and 12th.
18:19For the whole two years, he's under tremendous stress.
18:22The stress is so high, he's not able to go out anywhere, he studies most of the time, no phone,
18:28nothing.
18:28With that stress, he goes for the NEET exam.
18:31He does the exam, he comes out.
18:32He feels he's done very well.
18:34He comes back, he tries to relax a little bit and then he hears that the paper was leaked.
18:39So, what will be his status?
18:41Now, you can imagine that what would be going inside him, he has to again prepare for the books which
18:47he had kept,
18:47that I'm not going to touch them and I've done so well.
18:49So, NTA has to get into the shoes of those students and understand what will be their mental makeup.
18:56Till they don't get into the shoes of every student, they won't understand this.
19:00It is very heartbreaking.
19:02Ma'am, how shattered were the students when they spoke to you?
19:05You were the teacher, you taught them for hours in the classroom.
19:08How shattered they were and now what is the situation and how are you helping them to come out of
19:13their shell?
19:13Yeah, they are totally shattered.
19:16So, now as a teacher, our responsibility is to gear them up.
19:20To tell them that you have to again, you have to stand up.
19:24You have to work hard, even harder, because the exam is going to be tougher.
19:29People are saying this.
19:29So, our students and like we are happy that they have restarted.
19:34They have restarted studying and they are ready, but this time we are expecting that NTA should make the paper
19:40absolutely transparent.
19:42You are a student who is preparing for NEET.
19:45Your seniors gave an examination which got leaked and then got cancelled.
19:49You must understand the mental agony, what the students must be going through.
19:53So, as a student, what kind of a mental stress you people go through when you are preparing for such
19:58exams and then they get leaked?
19:59We feel very much like stressed, like it is hardly one month we have entered into this journey.
20:04And we are already much stressed that this much stuff, physics, chemistry, biology.
20:09And when we are listening that NTA has leaked the paper and then cancelled it.
20:14But like we are justтАж
20:15Somebody has leaked the paper.
20:16Yes, somebody has, NTA has cancelled it.
20:18And we are in so much under tremendous pressure that we are preparing it.
20:22We are still, we are having two years to prepare.
20:25But then we came to know that paper is leaked.
20:29We are seeingтАж
20:30Sir, you are the administrator over here.
20:31Yes.
20:31There is a financial implication.
20:33Maybe going to the government hospitals is a little less costly or going to the private is a little tough.
20:38That is one burden.
20:40Others burden is to cover the syllabus again, to rewrite the things again and to be in that zone again.
20:46What is the mental pressure teachers and the students are going through?
20:49See, no doubt financially lots of parents are facing this kind of burden.
20:54Because preparing a student for NEET is not easy task.
20:57It is very costly.
20:59So, they have to bear a lot of financial losses for this thing also.
21:03Like hostels of the students and again preparing them, mentally preparing them for reappearing for the exam.
21:10They are into a lot of pressure now.
21:13And second thing is that no doubt mental pressure is a lot because they have to reappear in the exam
21:19again.
21:19They have to prepare for the exam again.
21:21The stress levels are very, very high.
21:23See, for this small interview we are facing some kind of stress but students are going to appear in NEET
21:28exam.
21:28So, they are into a tremendous pressure right now because they are very uncertain about the pattern of the exam
21:35also.
21:36Because every year what is happening, some years it is very easy, some years it is too difficult.
21:41So, that difficulty level is also putting a lot of pressure on them also.
21:44We have students also.
21:46You are also preparing for NEET and your seniors have gone through something where the examination they gave has been
21:52cancelled.
21:52Does that scare you?
21:54Yes, absolutely.
21:55I was watching my seniors prepare day and night, sacrificing everything that they could for just this one exam.
22:02After the exam I talked to them and they were happy that their exams went well.
22:06And in fact, as an observer I was happy for them and was getting inspired by them.
22:10But now, yesterday when I learned that the exam has been cancelled, it makes me feel insecure about what will
22:17happen in the next year.
22:19When I am, I will be the one giving the exam.
22:23There should be strict actions against those who have leaked the exams.
22:27So, strict actions, the students talked, there is a mental agony they went through.
22:31Ma'am, how difficult has been the last 24 hours as a teacher and as a student who come to
22:36you?
22:37They are a bit settled now. They are a tad settled because few hours have passed.
22:41But NTA should declare the date as soon as possible so that they can reframe the things.
22:46Now they are anxious that how much time they will get to prepare the things to revise the thing.
22:51So, please declare the date as soon as possible.
22:56So, we heard all those teachers there with Aseem in Chandigarh.
23:00Let's also cut across to Patna very quickly and get a word from Rohit Singh there.
23:04Rohit, give us a view.
23:06There the teachers saying that students now 24 hours on have had a little time to sort of process the
23:11entire news.
23:12What are the expectations that they have now from NTA?
23:19Well, yes, Sonal, as you rightly pointed out, the cost involved in this entire medical business of getting into a
23:26good institute, about one crore if it is a private institute.
23:30And believe me, in a state like Bihar, people usually sell their jewellery, their land, their farms to arrange money
23:37for the coaching of their ward for the neat examinations.
23:42And I have with me a few girls here who are all neat aspirants.
23:46And let's get in a reaction from them only.
23:48What's your name?
23:50Swamish Rish.
23:51Swamish Rish.
23:51Swamish Rish.
23:51Swamish Rish.
23:52Swamish Rish.
23:52Tell me, the exam is done.
23:54Paper leak, cancel.
23:56What goes in the mind?
23:57What goes in the mind?
23:58What goes in the mind?
23:59What goes in the mind?
23:59What goes in the mind?
24:00First of all, paper was good.
24:03Yes, the exam was finally finished.
24:05Paper was good.
24:06But then, the paper leak and re-need was very bad.
24:11The first thing is, the mental pressure and anxiety is the same.
24:17From home, it gets wet.
24:18We'll need to take it once.
24:21Three days and we'll have to take it off.
24:27We'll have to take it off.
24:29But, after seeing it, the stress becomes more stability.
24:34What years have you been doing?
24:36Two years.
24:37Two years.
24:38Do you have to take it off once?
24:40Yes, it's better than this.
24:43What is your name?
24:44Swamish Rish.
24:45Now tell me how many people are living in Bihar in Bihar?
24:50How many people are experiencing mental pressure?
24:52There is a lot of mental pressure.
24:57When we heard about D-need, there was no expectation.
25:02When we were preparing for the preparation phase,
25:06it was also a leak in 2020 and it was tough on the paper.
25:11It was not going to happen.
25:16When we were preparing for the exam,
25:20the question was easy.
25:21I thought, yes, it could be a selection.
25:24It was very happy in the comfort zone.
25:26But when the news came,
25:29I thought, everything was gone.
25:31Everything was gone?
25:32Yes, it was.
25:34Ranjai, one of the leading teachers of this institute is also with me.
25:37Ranjai, tell me,
25:38that children have mental issues.
25:40They have been working for 2 years.
25:42What is going on?
25:43How many people are talking about?
25:45Yes, it is.
25:46Look at the students.
25:48So, at night and night,
25:49these children are studying.
25:51Finally, they know that
25:52some people who are studying paper and
25:57try to become a doctor.
25:59They are trying to become a doctor.
25:59So, this is a big question mark.
26:02It is a big question mark.
26:04The other system that is made to take a test,
26:08why does it not be able to conduct a test?
26:11Why is it not able to conduct a test?
26:12This is a big question mark.
26:14The other, the form of the NTA,
26:17which they have done,
26:18the question mark is that
26:19it is not a mistake.
26:21It is not a mistake.
26:21It is not a mistake.
26:23It is a repetition.
26:24It is a repetition.
26:25It is a repetition.
26:26It is easy for the children to give a need.
26:28It is very difficult.
26:29One student,
26:31just imagine,
26:31imagine,
26:32that one student,
26:34in the day and night,
26:35will give an exam,
26:36and his performance is very good.
26:40We have a lot of students
26:41have 700 plus scores.
26:43And the same student's stress
26:46is the level,
26:47that if he is still in the stress level,
26:51then what is necessary
26:52that he has more scores?
26:54And if he doesn't score
26:56so good,
26:57then the next one
26:59is that
27:00it will get out of competition.
27:02It means that
27:03his career future
27:04will be lost.
27:05And if
27:06his career future
27:07will be lost,
27:09then who will
27:09take responsibility
27:10this responsibility?
27:13Does the NTA
27:14take responsibility
27:15or the government
27:16take responsibility?
27:17This is a big question mark.
27:19Well,
27:20that's the reaction
27:21on the ground
27:21from Patna Sonal
27:22because you also deal
27:23in health issues.
27:24So you can understand,
27:25very well understand,
27:26the mental situation
27:28through which
27:28these neat aspirants,
27:30these girls
27:31are going through
27:32here in Bihar.
27:33It's very much evident.
27:34Back to you.
27:35Yeah.
27:36Thanks, Rohit, for that.
27:37And just want to say a word.
27:38I know the teachers are saying
27:39that it's very difficult,
27:41they're very depressed,
27:41but they've got to pump themselves up.
27:43I think that's the only message
27:44we can take.
27:45We've got to ask authorities a question.
27:47All of us will continue to do that,
27:49but they need to sort of ensure
27:51that their mental health
27:52is in the right space.
27:53And teachers have a huge role to play,
27:55even in this very interim time.
27:58We'll leave that story there for the moment.
28:00Thanks so much for joining us.
28:02But let's move on
28:02to the other big story
28:03that we are tracking.
28:04Prime Minister Modi's
28:05safe, wise mantra
28:07is now moving beyond messaging
28:09to a visible action
28:10on the ground.
28:11Leading from the front,
28:12the Prime Minister has now
28:13cut down his own convoy size.
28:15The SPG convoy
28:16now significantly reduced.
28:18You'll see that picture
28:19on your screen over there.
28:20Even as officials maintain
28:22there is no compromise
28:23on security protocols,
28:24there is also a push
28:24to add more electric vehicles
28:26into the convoy.
28:27Now, what has changed?
28:29An entire fleet of 14 to 17 vehicles
28:33that the Prime Minister's convoy
28:35used to have
28:36has become visibly leaner.
28:38So you see that on the left,
28:39there are about 14, 15 cars there.
28:42That's what used to happen.
28:44And now you see only two cars
28:46in that convoy.
28:47A strong signal
28:49that austerity is being enforced
28:51at the very top.
28:52And this is not just
28:53about government optics.
28:54The real focus is on households
28:55as well,
28:56how small behavioural changes
28:57can add up to that.
29:00Now, if families cut
29:01petrol consumption,
29:02even modestly,
29:03the annual savings
29:04could be between $350 to $400.
29:06Also, avoid buying
29:08about 10 grams of imported gold a year
29:10and that alone could save
29:11about $1,000.
29:12Skip one imported gadget purchase
29:15and you're looking at another
29:16$500 to $1,000 saved.
29:18Put that all together
29:19and the total savings
29:20per family are higher
29:22than about $2,000 to $2,500 annually.
29:24Now scale that up.
29:27If just one crore Indian families
29:30follow that approach,
29:31the country could save
29:32between $20 to $25 billion,
29:34a significant boost
29:35to foreign exchange reserves
29:37at a time when the global pressures
29:39are mounting.
29:40The message at the moment
29:41is very simple,
29:42that collective restrain
29:44is required
29:44because the times ahead
29:45are going to be tough.
29:54Prime Minister Modi showcasing
29:56the drastic move
29:57he wants India to follow.
30:01fuel fears,
30:02rising imports,
30:04global uncertainty
30:05and now India's power corridors
30:07are shifting gears.
30:10Prime Minister Narendra Modi
30:12has launched a full-scale push
30:14and he's beginning
30:15with his own convoy.
30:17Images show Modi travelling
30:19in a convoy of just two cars
30:21on his way
30:21to a cabinet meeting.
30:26My country has an appeal
30:29that wherever it is,
30:34reduce the petrol and diesel
30:36and metro
30:39and use the electric bus
30:44and use the public transport.
31:10In a dramatic move
31:12packed with symbolism,
31:13Prime Minister Modi has cut
31:14his official convoy.
31:16Sources have been
31:17to say,
31:17the Prime Minister personally
31:18directed the SPG
31:19to slash the number
31:20of vehicles
31:21without compromising
31:22even a single
31:23mandatory blue book
31:25security protocol.
31:26As per sources,
31:28Prime Minister Modi
31:28has also pushed
31:29for greater use of EVs
31:31in the Prime Minister
31:32convoy
31:32but with one strict condition,
31:34no new vehicles
31:36to be bought.
31:37The message from the top
31:38is now triggering
31:39a chain reaction
31:40across the country.
31:42BJP ruled states
31:43like Uttar Pradesh,
31:45Madhya Pradesh,
31:45West Bengal
31:46and Rajasthan
31:47are now downsizing
31:49convoys
31:49and pushing fuel-saving
31:51measures.
32:08Uttar Pradesh Chief Minister
32:10Yogi Adityanath
32:11has ordered a 50% cut
32:13in official fleets
32:14and even urged leaders
32:15to use public transport.
32:18Ministers, including
32:19Home Minister Amit Shah,
32:20arrived for a crucial
32:21cabinet meeting
32:22in trimmed convoys.
32:25Delhi Minister Kapil Mishra
32:26took the Metro to work.
32:29I have been told
32:29in the morning,
32:30in the morning,
32:31I have been told
32:33to have an online call
32:34and conference
32:35to have an online call
32:35to have an online call.
32:35I have been told
32:37that everyone
32:38are going to be
32:38to have a small
32:38government
32:38and a small
32:40government
32:41to use
32:42to use
32:42more
32:42and more
32:44as well.
32:44to have an online call.
32:45I have been told
32:46This morning,
32:47you can see,
32:48I have also traveled
32:48from Metro.
32:55I have also traveled
32:56from Metro.
33:14to have an online call.
33:16I have been told
33:16that there were thousands
33:17of people
33:19I have been told
33:22that there were thousands
33:22in the past.
33:24Not just in India,
33:26even Singapore government
33:27has cautioned
33:28its citizens
33:29to prepare
33:29for a more difficult
33:30period ahead.
33:32Globally,
33:33inflation will rise,
33:35spreading from energy
33:36to food
33:37and then other essentials.
33:39And Singapore
33:40will feel the impact
33:41directly.
33:42And all this
33:43will put real
33:44pressure
33:45on businesses,
33:46workers and households.
33:48So we must
33:49brace ourselves
33:50and be prepared
33:51for a more difficult
33:52period ahead.
33:53And I want to be upfront
33:55with all of you
33:55so that we are
33:57mentally prepared.
33:59As fuel prices,
34:00global tensions
34:01and economic pressures
34:02continue to mount,
34:03governments
34:04across the world
34:05are sending
34:05the same message.
34:07Cut excess,
34:08conserve resources
34:09and prepare
34:10for uncertain times
34:11ahead.
34:12And in India,
34:13the push
34:14is no longer
34:14just an appeal
34:15from the top.
34:16It's becoming
34:17policy in motion.
34:19Bureau Report,
34:20India Today.
34:24Now, all of this
34:26spend, you know,
34:28vice mantra,
34:29what is the kind
34:30of impact
34:31that we're seeing
34:32of that on the ground?
34:33We found one
34:36rather disturbing one,
34:38but I thought
34:38let me break it down
34:39for you.
34:40The impact of all
34:41of this is that your
34:42weddings just got
34:44more expensive.
34:46Let me tell you how
34:47and why exactly that
34:48matters.
34:49Now, India's peak
34:50wedding season,
34:51in the summer wedding
34:51time at least,
34:52runs from May
34:53through July.
34:54This year,
34:55it has collided,
34:56sort of head on,
34:57with the government's
34:57austerity drive.
34:58On the 10th of May,
35:00Prime Minister Modi
35:00asked Indians to avoid
35:01buying gold for a year,
35:03citing pressure on the
35:04country's foreign exchange
35:04reserves from the
35:06prolonged West Asia war
35:07and conflict,
35:08you know that by now.
35:09But three days later,
35:11on the 13th of May,
35:12the government acted
35:13on something else.
35:13It raised the import duty
35:16on gold and silver,
35:186% to 15% in a single move.
35:23For families with weddings
35:25already booked and gold
35:26purchases planned,
35:27the timing could not be
35:28more disruptive.
35:30Here's a plain money breakdown
35:33of what has changed.
35:35Let's look at that.
35:35Now the centre has raised
35:37the import duty of
35:38gold, silver and platinum
35:39to 15%.
35:43Effective May 13th,
35:45the move combines
35:4610% of basic custom duty,
35:485% of agricultural,
35:49infrastructure and
35:50development cess as well.
35:52This is layered on top
35:54of an existing 3%
35:55integrated GST on
35:56gold and silver imports.
35:58So before this hike,
36:00the total duty burden,
36:01everything included,
36:03was lower,
36:04much, much lower at 6%.
36:06As of May 13th,
36:0824 carat gold is priced
36:10at approximately
36:1315,398 per gram.
36:1622 carat gold stands
36:17at a grade,
36:18most jewelry stands
36:19at about 14,115 per gram.
36:24For context,
36:25a year ago,
36:2622 carat gold was trading
36:27roughly at about 9,000 only.
36:30It's at what?
36:32It's at over 15,000.
36:3315,400 or something,
36:35it's at at the moment.
36:36The combination of
36:37global price rise
36:38and the weakening rupee,
36:39now the duty hike
36:40has effectively pushed
36:41jewelry prices
36:41to record highs.
36:43And the impact
36:44is most visible
36:46in wedding spending.
36:48Now, a typical
36:48middle class wedding
36:49involves buying
36:50between 50 to 150 grams
36:52of gold, roughly.
36:53That's the calculation
36:54that we went by
36:55over here.
36:56And after that duty hike,
36:58the jump in cost is significant.
37:01For about 10 grams
37:02of 22 carat gold,
37:03the price has climbed up
37:041.41 lakh.
37:09Up from about 130.
37:10An increase of over
37:1211,000 rupees.
37:13Just like that.
37:15And remember,
37:16these are only base prices.
37:18I've not even kept in mind
37:20the making charges,
37:21GST and jewelry margins
37:22that will actually,
37:23you know, find its way
37:24in the final bill
37:25that you and I pay.
37:27Now,
37:28so the question
37:28everybody is asking is
37:29why did the government
37:31do this now?
37:32If you haven't understood
37:34the map,
37:34here's it for you.
37:36India's gold import bill
37:38rose to nearly
37:3972 billion in 25-26.
37:41Almost double
37:42the 35 billion
37:43recorded in 20-23.
37:45Gold alone
37:46accounted for nearly
37:47about 9%
37:48of India's total imports
37:49last financial year.
37:50Now, every rupee spent
37:52on imported gold
37:53drains foreign exchange
37:55reserves
37:56and weakens the rupee.
37:58Which in turn
37:59makes oil,
38:01fertilizer,
38:02other essential items
38:03much costlier
38:04for everyone.
38:05The duty hike
38:06is an attempt
38:07to make gold
38:07expensive enough
38:09that Indians
38:10voluntarily buy less.
38:12They're discouraging
38:14you from buying
38:14more gold.
38:15That's the strategy.
38:17Now,
38:17will prices fall
38:18if the demand falls?
38:21Economics question.
38:22Let's go back
38:23to the classroom
38:23to understand that.
38:25Not significantly
38:26in the short term.
38:27Gold prices
38:28in India are driven
38:29by international
38:29bullion rates,
38:31rupee-dollar movement,
38:32import duties,
38:33seasonal demand,
38:33all of that.
38:34With the wedding
38:35and festive season underway,
38:36retail demand is holding
38:37firm and preventing
38:39sharp corrections.
38:41the smuggling wild card.
38:43That's another thing to consider
38:46in the mix of it all.
38:48Higher import duties
38:49have a historic downside.
38:51They make smuggle gold
38:52more attractive.
38:54When India faced
38:54a similar sort of
38:56current account crisis
38:57in 2013,
38:58in fact,
38:59if you'll remember,
38:59the government raised
39:00gold import sharply.
39:02Imports through official channels
39:03fell,
39:04but informal channels
39:05sort of filled parts
39:07of that gap.
39:08Industry bodies
39:09have already warned
39:09that the new 15% duty risks
39:12pushing buyers
39:13towards grey market gold.
39:15For the buyer,
39:17the route carries its own
39:18serious legal risks as well.
39:21What is the practical advice
39:23right now that the experts
39:24are giving?
39:26If your family has a wedding
39:28ahead in the next few months,
39:30gold is already budgeted for.
39:32Prices are unlikely to fall soon.
39:35Further policy is expected
39:36only to tighten further,
39:38including additional
39:38duty increase of restrictions
39:40on gold,
39:41sort of leasing using large
39:43jewelers.
39:43That cannot be ruled out
39:45if forex pressure continues.
39:47Buying sooter rather than later,
39:49actually locks in today's price
39:51before any such move happens.
39:54So that's a little tip for you
39:56that the experts are giving.
39:57But at the moment,
39:58we are not looking at an easing
40:00on price or pressure
40:02in the near future at least.
40:08But with all this gold in news,
40:11one is really wondering
40:13the question that how much of gold
40:16can you legally keep at home?
40:18Do you know?
40:19There is a rule
40:22in the Indian rule book.
40:24What the CBDT rule
40:26actually says about it.
40:29But let me tell you first
40:30why this matters.
40:31Why am I asking you this question?
40:32Now, as the West Asia conflict
40:34drives up oil prices
40:36and strains India's
40:36foreign exchange reserves,
40:38Prime Minister asked,
40:39made a very unusual public appeal
40:41not once but twice.
40:43Now he's leading by example as well.
40:44The government two days later,
40:46like I said, import on gold
40:48has also, you know, gone up to 15%.
40:51For millions of Indians,
40:53people are wondering what to do next.
40:56Now for also a lot of us,
40:59gold already is a house safe
41:02from scrutiny.
41:04Right?
41:05It's your,
41:06it's your backup plan.
41:08It's,
41:08it's,
41:08this is your actual insurance,
41:10your leverage really.
41:12But here is what the law actually says
41:16on how much gold we as Indian citizens
41:19are allowed to keep.
41:23Now the short answer to all of this is that
41:25there is no upper limit on the amount of gold
41:27you can own in India.
41:29as long as you can explain where it came from.
41:32The government does not ban gold ownership.
41:34What it cares about is whether your gold matches
41:37your declared income.
41:40Now the safe harbor limits.
41:43The most cited figures come from CPDT instructions.
41:48This is about number 1916.
41:52And this was issued back in 94
41:53when the instructions guided income tax officers
41:56conducting search and seizure operations
41:58telling them not to seize gold below specific thresholds
42:03even when the source proof is unavailable.
42:06It is not a limit on how much you can own.
42:08It is a safe harbor that says below this much
42:10no questions will be asked.
42:12Even during a late.
42:13During, you know,
42:14if an IT rate is going on.
42:16But there are thresholds.
42:17What are those thresholds before
42:19under which you will not be asked a question?
42:21Very fascinating details.
42:22If you're a married woman,
42:24it's 500 grams.
42:25If you're an unmarried woman,
42:26it is 250 grams.
42:27A man married or unmarried is 100 grams.
42:31Now these apply to individuals,
42:33not households, remember.
42:35So it will be counted per individual.
42:37So a married couple with two adult children,
42:40one married, one unmarried,
42:42can collectively hold about 1350 grams
42:44without producing a single bill.
42:46At today's gold prices that is.
42:48And that is roughly about, you know,
42:50two crores worth of jewelry sitting legally and safely at home.
42:53And no questions will be asked.
42:54That's the calculation.
42:56But what about gold above those limits?
43:00Now owning more is not automatically unlawful.
43:03But during scrutiny, you need to prove the source.
43:07Through purchase invoices, inheritance papers,
43:11or even gift deeds.
43:13Shadi call those gold gifts that you get.
43:17Tax officers say seize access jewelry
43:20if explanations are not satisfactory
43:22or do not match your income profile and family traditions.
43:26Unexplained gold sort of attracts a tax
43:29and even a penalty near 78% under the section 69A of the Income Tax Act.
43:35That is a steep price for not keeping paperwork in order.
43:39So use this opportunity while all these measures are going on
43:42to update that paperwork.
43:43Talk about it with your family.
43:45Ask the women in the family where all the gold is
43:48and how much is it really.
43:50Also on the question of coins and bars.
43:52If you've been married decently,
43:53you will be very worried about this.
43:55You don't know where to keep them.
43:56The CPDT circular specifically mentions
43:59that jewelry and ornaments, so gold coins and bars,
44:02do not get the benefit of the safe harbour limit
44:08and may be seized if a valid purchase bill is not produced,
44:11regardless of the weight, investment grade,
44:13or any form that should be backed.
44:17Whatever gold that you have in form of coins and bars,
44:20you need to have an invoice for it
44:23or at least a brokerage statement.
44:25But what kind of invoice do you need?
44:29That also is here on the program.
44:32What counts as a valid proof?
44:34Now the documents tax authorities accept include
44:37purchase invoices with PAN and GST,
44:41gift deeds for weddings or even wedding or festive gifts.
44:45Inheritance documents such as wills or succession certifications
44:48and even past income returns where the asset was disclosed.
44:54Also, a Sridhan declaration also works for a married woman's personal jewelry,
44:59recognizing the customary principle that jewelry received at marriage
45:03and during lifetime is absolute property in a way.
45:07So that's everything you need to know.
45:09But what about tax when you sell?
45:13Now there is no tax on simply holding gold.
45:17The tax applies when you sell, right?
45:19So if sold within two years, profits are taxed as short-term capital gains
45:23under your income tax slab.
45:25If held for over two years, gains are taxed at a flat 12.5 as long-term capital gains
45:31with no indexation benefit.
45:33So the bottom line here is the gold locked in your safe in your Elmira right now
45:39is almost certainly fine as long as you know where the bills are.
45:45So while all of us are worrying about gold pricing and where it's going,
45:50please use this opportunity to get an updated paperwork done on everything gold that you own.
46:03All right, cutting across to some updates coming in.
46:07This is ahead of the landmark meeting with the Chinese President Xi Jinping.
46:10Donald Trump has landed in Beijing.
46:13President Donald Trump has landed in Beijing for a high-stake two-day visit
46:17with the Chinese counterpart Xi Jinping.
46:20You're looking at those pictures live right now.
46:24Quite a fanfare with which a welcome has been given to U.S. President Donald Trump.
46:33All right, so those visuals over there, extremely coordinated and very, very flamboyant,
46:40welcome, warm, festive welcome given to Donald Trump as he lands in Beijing
46:47for that very, very important meeting.
46:49So much is going on in the world right now.
46:51There is a West Asia war.
46:53There's an oil crisis that we're looking at.
46:55India is facing so much of it as well.
46:57And when two powerhouses meet, what happens will be watched very, very closely.
47:03It looks like Donald Trump is still to come down those stairs.
47:07So we'll stay on those visuals and see what actually happens over there.
47:13At the moment, you have that massive, you have that car which is waiting to receive
47:20U.S. President Donald Trump as he lands in China.
47:25We leave you with these visuals.
47:27Stay tuned to India today.
47:28Lots more coming up.
47:29Stay tuned to India.
47:31Stay tuned to India.
47:35Stay tuned to India.
47:38Stay tuned to India.
47:40Stay tuned to India.
47:42Stay tuned to India.
47:43Stay tuned to India.
47:43Stay tuned to India.
47:43Stay tuned to India.
47:44Stay tuned to India.
47:45Stay tuned to India.
47:45Stay tuned to India.
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