UK Visa Application Following a previous Refusal: Changes to the answers on the form [duplicate]

Your question is two parts...

Can you change the application so that it is different from a previous refused application?

Yes, that's what they want people to do. Part of your refusal notice says that your next application will fail unless there's a change in circumstances, so it's important to emphasize those changes.

Is your new evidence going to work?

This, like many visa questions, calls for an opinion. Mine is that your next application will fail also.

1. Granted you are presenting some new evidence but it is not a change in circumstances. Your situation is still the same as it was in your previous application. I.e., you're a student in reduced circumstances with few apparent ties to India and who is reliant on two co-sponsors.
2. Your flight tickets will require the depletion of about 10% of your entire family's liquid assets. This is outside of the feasibility range. The ECO already noted that this was disproportionate and providing more detail about the individual balances does not make it proportionate. In the event you need more, your family may need to liquidate their fixed deposits/provident funds and because of this, ECO's are reluctant to credit them.
3. You have a letter from your school stating that you are a student and they have no objection to your travelling during their break. The chances are good that they already checked this out on your previous application to be sure you were not deceiving them (Indian consulates check everything). And if the ECO determined that such a letter would save the application and prevent a refusal, they would have contacted you or they would not have refused (it's really not an adversarial process).
4. You were refused on V 4.2 (a) + (c) + (e) which means you fit two profiles (1) go underground and try to live in the UK; and (2) eventually become reliant upon public funds. You need to fix two hard misconceptions they have about you and your new evidence does not do much to fix them.
5. Sponsored applications make the very weakest case for an ECO; sponsors can pay for your tickets but neither your father nor your cousin nor your school can prevent you from going underground if you opt to do so.

Your question history here on TSE indicates that you are experiencing some anxiety about your fresh application and while I sympathize with the need to 'clear one's name', doing it in a hurry can make matters worse. Consider waiting until a more prosperous time.

Note: This is the first answer to your question, it's best to wait until all the time zones have had a chance to put in more answers.

There's more information about capacity and apparent lifestyle here: Should I submit bank statements when applying for a UK Visa? What do they say about me?