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<ul class="summary-list"><li>This week, <keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword>'s official COVID-19 death toll passed 200,000, according to government figures. </li><li>However experts worry the death toll could be five to 10 times higher, multiple reports say.</li><li>Morgues are so overwhelmed that bodies have had to be cremated in makeshift pyres in parking lots.</li></ul>Medical experts and frontline workers are casting doubt over <a href="https://www.businessinsider.com/india-coronavirus-pm-modis-aunt-dead-after-infection-family-says-2021-4">India's official COVID-19 death toll</a> as the country passed its 200,000 mark on Thursday, according to multiple reports. India, which is in the <a href="https://www.businessinsider.com/india-coronavirus-crisis-who-europe-head-warns-could-happen-anywhere-2021-4">midst of a devastating second coronavirus wave</a>, reported 3,498 deaths on Thursday, <a href="https://www.businessinsider.in/india/news/india-adds-386452-new-covid-19-cases-and-3498-fatalities-in-last-24-hours-highest-single-day-spike-ever/articleshow/82323651.cms">according to health ministry data</a>. It was the third day in a row the country recorded more than 3,000 deaths a day. But medical experts and frontline workers worry the actual death toll may actually be much higher.Read more: <a href="https://www.businessinsider.com/covid-19-modi-india-failed-in-critical-hour-of-need-2021-4">Hospitals in India are turning patients away and COVID-19 cases are skyrocketing. But Prime Minister Modi is on the campaign trail and ignoring the crisis.</a>A <a href="https://www.nytimes.com/2021/04/24/world/asia/india-coronavirus-deaths.html" target="_blank" rel="noopener">New York Times</a> investigation published this week found "mounting evidence" that suggested fatalities are being "overlooked or downplayed" by the government. "It's a complete massacre of data," Bhramar Mukherjee, an epidemiologist at the University of Michigan, told the Times. "From all the modeling we've done, we believe the true number of deaths is two to five times what is being reported."Experts interviewed by <a href="https://www.reuters.com/world/india/indias-coronavirus-infections-cross-18-million-2021-04-29/">Reuters</a> have suggested the death toll could even be between five to 10 times higher than what is being reported.A <a href="https://news.sky.com/story/india-crematoriums-underreporting-bodies-as-suspicion-grows-over-true-number-of-coronavirus-deaths-12288828">Sky News investigation</a> found that deaths were being underreported in several crematoriums across the capital, New Dehli. Funeral workers told Sky <keyword id="6355005" type="UNKNOWN" weightage="100" keywordseo="news">News</keyword> that they've "been told to give [lower] numbers by higher authorities."Dr Manas Gumta, the general secretary of the Association of Health Service Doctors, West Bengal, <a href="https://www.theguardian.com/world/2021/apr/24/indias-covid-death-toll-hides-stark-truth-for-the-poor-its-even-worse">told the Observer this week</a>: "A huge suspected COVID-positive population is certainly staying away from the tests. I believe the actual number of people dying of COVID is two to three times higher than what the government is reporting."As COVID-19 deaths surge in the country, crematory workers say they have become<a href="https://www.businessinsider.com/india-coronavirus-dead-cremation-parking-lots-overflow-2021-4"> overburdened</a>.Some cities have turned parks and parking lots into makeshift crematoriums to keep up with the abundance of bodies.In the Seemapuri crematorium in New Dehli, the staff has been so overwhelmed they've launched a ticketing system, <a href="https://edition.cnn.com/2021/04/29/india/india-covid-deaths-crematoriums-intl-hnk-dst/index.html">CNN reported</a>.Jitender Signh Shunty, who runs a service in New Dehli, <a href="https://www.insider.com/india-coronavirus-covid-crematorium-funeral-burial-delhi-2021-4">told Insider</a> he's getting only two hours of sleep a night. "These days I don't even get two hours of sleep," he said. "At 7 a.m. I come here, I start dispatching ambulances, or I arrange for a dead body to be picked up, then get it cremated."Shunty, who says he used to only cremate 10 bodies a day, now estimates that number to be around 90."I can work 21 out of 24 hours a day - I am not the kind of person who breaks down easily," Shunty added. "But in this wave of the <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword>, I've seen the dead bodies of small children and women who have become widows at a young age. They all have died for no good reason."At the time of writing, India has reported more than 19 million cases and more than 211,000 coronavirus deaths since the start of the pandemic, according to a <a href="https://coronavirus.jhu.edu/region/india">tracker by Johns Hopkins University.</a>

The COVID-19 death toll in India could be up to 10 times higher than the official 200,000 figure, experts say

<ul class="summary-list"><li><keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword> is in crisis: <keyword id="6365858" type="UNKNOWN" weightage="60" keywordseo="hospitals">Hospitals</keyword> are overloaded with patients amid a surge in <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword> cases.</li><li>Rapidly spreading <keyword id="112799" type="PERSON" weightage="60" keywordseo="variants">variants</keyword> and social gatherings are fueling this outbreak, experts say.</li><li>A slow vaccine rollout and ill-prepared healthcare system have made matters worse.</li></ul>Just two months ago, India's coronavirus outbreak seemed to have turned a corner. Cases had plummeted to their lowest point since the beginning of the pandemic and vaccines were starting to be rolled out.But Bramer Mukherjee, an epidemiology professor at the University of Michigan, wasn't convinced the progress would last. By mid-February, she spotted an uptick in cases amid an increase in weddings, family gatherings, festivals, and sporting events.She called up her 81-year-old father and 79-year-other mother, who live in Calcutta, to see if they'd be getting vaccinated soon."They said, 'There's no virus right now. There is no rush,'" Mukherjee told Insider. "I think this actually tells you what happened: that in the valley of the virus, that was the right time for India to accelerate vaccination, but that did not happen."Now, average daily cases in India have risen more than 20-fold in the last two months. The country reported more than 350,000 new cases on Monday - the world's highest-ever daily total. <keyword id="6419711" type="UNKNOWN" weightage="60" keywordseo="Deaths">Deaths</keyword> have risen nearly 25-fold in the last two months. Indian hospitals are now plagued by long lines and <a href="https://www.businessinsider.com/india-hospitals-run-out-of-oxygen-amid-covid-19-surge-2021-4">ventilator and oxygen shortages</a>, while bodies pile up at crematoriums. Public-health experts point to four factors that have caused the outbreak to spiral out of control: rapidly spreading variants, an increase in social gatherings, a slow vaccine rollout, and an ill-prepared healthcare system. Had India used its respite over the winter to ramp up testing, genomic surveillance, and the supply of critical medications, they said, the nation would have been better prepared to handle a new surge."Unfortunately, the narrative that played out about how well India did caused a false sense of security," Krutika Kuppalli, an assistant professor at the Medical University of South Carolina, told Insider. "I always felt and believed that India would become the epicenter of this pandemic."Mukherjee said India's "premature celebration of victory" could serve as a warning to other countries."The treacherous thing about this virus is that you cannot wait to see its action," she said. "You have to really track its silent footsteps."<h2>Variants are likely the main culprit behind the surge</h2><div type="image" title="india coronavirus" height="973" width="1500" msid="82222926" hostid="261"></div>Rapidly spreading coronavirus variants are perhaps the biggest culprit behind India's harrowing outbreak. One in particular, B.1.617, has <a href="https://www.businessinsider.com/double-mutant-coronavirus-variant-california-india-2021-4">a "double mutation"</a> that may help it evade antibodies generated in response to vaccines or previous <keyword id="6418348" type="UNKNOWN" weightage="60" keywordseo="infections">infections</keyword>. Scientists say the variant shows early hallmarks of being more transmissible than the original strain."This new variant seems more infectious, seems to grab younger people, and seems to have really driven the numbers up," Prabhat Jha, an epidemiologist at the University of Toronto, told Insider.Scientists in the state of Maharashtra first identified the B.1.617 strain in March. At the time, they said the variant was linked to between <a href="https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1707177">15% and 20% of cases</a> there. By April, the variant had come to represent more than half of India's new coronavirus cases, according to <a href="https://outbreak.info/situation-reports?pango=B.1.617&amp;selected=IND&amp;loc=USA&amp;loc=USA_US-CA&amp;loc=INDS-CA&amp;loc=IND">GISAID</a>, a global database that collects coronavirus genomes."The double mutant is <a href="https://www.businessinsider.com/double-mutant-coronavirus-variant-california-india-2021-4">now in California</a>, it is in the UK, and similar variants are going to circulate all over the world," Mukherjee said. "It's really a global problem."Other coronavirus strains could be fueling the virus' spread as well. Scientists recently identified <a href="https://www.businessinsider.com/covid-triple-mutant-in-india-could-be-much-more-deadly-2021-4">a variant with three key mutations</a>, B.1.618, in West Bengal. And a variant in Bangalore, B.1.36, carries a mutation that has been associated with coronavirus reinfections. Experts said India would benefit from regional lockdowns in areas where variants are spreading widely."If India doesn't get their pandemic under control, it affects the entire world," Kuppalli said. "We can put all the travel restrictions we want, but that's not going to prevent these mutations from getting to other places."<h2>Social gatherings gave variants more opportunities to spread</h2><div type="image" title="Holi Festival 2021" height="4285" width="6428" msid="82222928" hostid="261"></div>Variants had plenty of opportunities to spread in India this spring.Earlier this month, at least 50 million people crowded along the Ganga river for a Hindu religious festival that has since been <a href="https://www.thedailybeast.com/50-million-people-allowed-at-superspreader-festival-so-modi-can-secure-the-hindu-vote">linked to at least 2,000 coronavirus cases</a>. Indian Prime Minister Narendra Modi has also held large election rallies, including one in March that attracted 800,000 people.On top of that, experts said, many Indians felt it was no longer vital to continue social distancing or wearing masks. A <a href="https://www.hindustantimes.com/cities/delhi-news">January survey</a> found that 56% out 28,000 people sampled in Delhi tested positive for coronavirus antibodies - leading many locals to believe that large cities had already reached herd immunity, according to Mukherjee."Many people were thinking by December, January, 'Oh, we've got this under control,'" Jha said. "That turned out to be just hubris and I, among others, had warned that it could really bite back."Even countries like the US, UK, and Israel - which have vaccinated between 40% and 65% of their populations - need to be mindful that the virus hasn't disappeared, experts said."The real lesson here is: respect the virus, respect <keyword id="41551" type="ENTERTAINMENT" weightage="100" keywordseo="science">science</keyword>," Jha said. "There's no other way out."<h2>A slow vaccine rollout meant India couldn't get ahead of its outbreak</h2><div type="image" title="india vaccine line" height="3648" width="5472" msid="82299179" hostid="261"></div>India has immunized less than 9% of its population since its national vaccine program started three months ago. That isn't particularly surprising, given the country's size."The challenges there of vaccinating a billion people are just extraordinary," Jha said. But India's vaccine rollout also suffered from a lack of urgency, experts said: Some residents didn't feel the need to get vaccinated right away. Others were skeptical of the shots.India approved its own vaccine, Covaxin, before human trials were finished. It's similar to China's Sinovac vaccine. The shot's makers, Bharat Biotech and the Indian Council of Medical Research, have said it is <a href="https://www.bharatbiotech.com/images/press/covaxin-phase3-clinical-trials-interim-results.pdf">at least 78% effective</a>. But Jha there's still uncertainty about how well the vaccine is working."We know that a similarly designed Chinese vaccine is underperforming in Latin America, and there might well be the same phenomenon occurring in India," he said. The vaccination effort also took a hit when cases began to rise, according to Kuppalli, because that forced healthcare workers to shift their focus away from administering shots."Vaccines are great, and we need to be rolling them out and ramping them up, but you can't vaccinate your way out of a surge," Kuppalli said.<h2>India's healthcare system wasn't prepared for another surge</h2><div type="image" title="A Covid-19 patient gets admitted to a government hospital in Kolkata, India, 22 April, 2021. India reported 314,835 fresh coronavirus infections on Thursday according to an Indian media report." height="1669" width="2500" msid="82222932" hostid="261"></div>Jha said the Indian healthcare system wasn't equipped to handle another outbreak on top of its vaccine rollout."You have to remember the background here is there's been chronic underinvestment in Indian health for quite some time," he said. "India, like many countries, sadly does not have an adult immunization program." The country had a brief window when cases were low in which it would have been easier to scale up testing and the supply of critical medications, Jha added, but many government officials falsely assumed that the threat was over.Now, the situation on the ground in India is likely even more harrowing than the official numbers indicate. Testing shortages prevent the nation from quantifying the scale of its outbreak, and a handful of <a href="https://www.nytimes.com/2021/04/24/world/asia/india-coronavirus-deaths.html">doctors</a>, local journalists, and <a href="https://www.bloomberg.com/news/articles/2021-04-22/even-record-death-toll-may-hide-extent-of-india-s-covid-crisis">relatives of the deceased</a> have reported that official tallies <a href="https://www.bloomberg.com/news/articles/2021-04-22/even-record-death-toll-may-hide-extent-of-india-s-covid-crisis">don't reflect the number of bodies arriving at crematoriums</a>. India's healthcare providers also lack the resources, including beds and medications, to treat patients."If you under-report and suppress data and number of deaths, then you cannot really estimate how many people are going to show up at the hospital the next day," Mukherjee said. "And that really harms your ability to provide oxygen and to provide healthcare resources to people."Experts said some doctors in India have - whether due to a lack of training or sheer desperation - tried administering medications that don't work against the virus, like ivermectin, a prescription used to treat parasitic infections."I've heard stories of people getting three, four, five, six meds prescribed to them, medications that have not been shown to be effective at all," Kuppalli said. "I think people are just grasping for straws and that just adds to the chaos and the anxiety." There can also be a financial incentive to offer drugs to patients in critical condition, Jha said."When you have a scenario like this, you'll get really desperate people," he said. "And then you also have very unsavory private providers that'll take advantage of that and offer all sorts of treatment, whether they work or not."Drugs that can work, meanwhile, like the antiviral drug remdesivir, are now in high demand, Kuppalli said."There's a huge black market for remdesivir," she said, "and I'm worried that might happen for vaccines now as well."

A perfect storm of 4 factors has fueled India's harrowing coronavirus surge. Other countries could be next.

The country's largest commercial shipbuilder <keyword id="197989" type="ORGANIZATION" weightage="20" keywordseo="Cochin-Shipyard">Cochin Shipyard</keyword> Limited (CSL) on Monday reported a 64.54 per cent dip in standalone profit at Rs 42.64 crore in three months ended June, adversely impacted by the COVID-19 pandemic outbreak and subsequent lockdown. The company had posted a profit of Rs 120.25 crore in Q1FY20, as per a regulatory filing. Income from operations declined 54.87 per cent to Rs 332.47 crore in June quarter of the current fiscal from Rs 736.85 crore in the same period last year. "The company's operations and financial results for the quarter ended June 30, have been adversely impacted by the COVID-19 outbreak. The pandemic had prompted a lockdown resulting in a temporary disruption of operations from March 23 to May 5," CSL said in the regulatory filing. The company continued to work on a reduced time scale for a "significant" period of the quarter which further affected the financials for the current quarter, it added. The company has looked at the possible future uncertainties in economic conditions because of the pandemic from internal and external information such as current contracts, financial strength of supply chains and customers, among others, it said, adding, that it "expects the carrying amount of these assets will be recovered and there is no significant impact on liabilities accrued." CSL has bid and submitted a Resolution Plan for Tebma Shipyard Limited (TSL) under the Corporate Insolvency Resolution Process (CIRP), which has been accepted by the Committee of Creditors (CoC) and NCLT has approved the same, the company said. CSL is engaged in construction and repair of ships for domestic and international clients, and has its facility in Malpe, Karnataka. SEE ALSO: <a href="https://www.businessinsider.in/india/news/former-president-of-india-pranab-mukherjee-tests-positive-for-covid-19/articleshow/77459256.cms">Former President of India Pranab Mukherjee tests positive for COVID-19</a> <a href="https://www.businessinsider.in/defense/news/list-of-weapons-that-india-can-make-at-home-and-the-ones-it-cannot/slidelist/77459796.cms">List of weapons that India can make at home — and the ones it cannot</a> <a href="https://www.businessinsider.in/stock-market/markets/news/share-prices-of-bhel-lt-hal-bharat-forge-bharat-dynamic-and-others-are-rallying-in-the-stock-market-today/articleshow/77455503.cms">HAL’s share price jumps by over 8% as defence stocks rally after India announces import ban</a>

Cochin Shipyard's profit plummets by 65% under pressure from COVID-19 impact

<ul><li>In a LinkedIn post <keyword id="148915" type="COMPANY" weightage="20" keywordseo="PWC-India">PwC India</keyword> head Shyamal Mukherjee said that the company is taking interim measures in light of Covid-19. </li><li>This includes “deferment of promotions, increments and bonus till a point in time one gets certainty around business”.</li><li>Sources also say that PwC India announced a complete <keyword id="6357342" type="UNKNOWN" weightage="20" keywordseo="Hiring">hiring</keyword> freeze while its partners will take a 25% pay cut. But it won’t cut any <keyword id="11018" type="COMPANY" weightage="20" keywordseo="Jobs">jobs</keyword>.</li></ul>The impact of the coronavirus pandemic on people’s jobs has begun. One of the Big 4 accounting firms – PwC India is deferring all appraisals, promotions and increments of its employees. In a LinkedIn post PwC India head Shyamal Mukherjee said that the company is taking interim measures in light of Covid-19 which includes “deferment of promotions, increments and bonus till a point in time one gets certainty around business.” 
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 According to sources, PwC India also announced a complete hiring freeze while its partners take a 25% pay cut. The firm has paid March salaries will be paid on time, but April salaries could be delayed as a call will be taken when cash positions of the company are better. However, the company has said it won’t cut jobs. Business Insider has sent an email to PwC with queries but hasn’t got a response yet. With the coronavirus pandemic, fear of whether people will be able to keep their jobs has set in. GoAir has cut salaries of all of its employees as the lockdown has seen the suspension of all flights. Meanwhile, another tech major Cognizant has said that it will give two-thirds of its employees 25% of their base salary as additional payment to help them deal with the crisis situation. See also <a href="https://www.businessinsider.in/finance/news/home-loans-education-loans-and-business-loan-interest-payments-deferred-for-three-months-by-rbi/articleshow/74841767.cms">No EMI payments for home, car, and corporate and other loans for 3 months says RB</a>I.

PwC India defers appraisals and promotions, freezes hiring and partners to take a 25% pay cut – but jobs are safe

<ul><li>India's real GDP grew at around 8.2% in real terms in Fy24: Economic Survey </li><li>Retail inflation dipped to 5.4% in FY24, notes Economic Survey</li><li>Unemployment dipped to 3.2% in FY24</li></ul><keyword id="19912360" type="General" weightage="20" keywordseo="Finance-Minister-Nirmala-Sitharaman" source="keywords">Finance Minister Nirmala Sitharaman</keyword> is set to present the union budget on 23rd July, at 11 am. The budget session is scheduled to last between 22nd July and 12th August. This will be <keyword id="19956941" type="General" weightage="20" keywordseo="FM-Sitharaman" source="keywords">FM Sitharaman</keyword>'s seventh consecutive budget presentation under the third term of <keyword id="20205025" type="General" weightage="20" keywordseo="Bhartiya-Janata-Party" source="keywords" meta.keywordsubtype="org" meta.entityname="Bhartiya Janata Party" meta.hostid="261" meta.entityid="Bhartiya Janata Party">Bhartiya Janata Party</keyword> (BJP). All budget-related documents will be available at indiabudget.gov.in. You can watch the presentation live on Doordarshan, Sansad TV, and also on various official government YouTube channels. With this budget, Sitharaman will only precede former PM <keyword id="20342248" type="General" weightage="20" keywordseo="Morarji-Desai" source="keywords">Morarji Desai</keyword>, who has presented the highest number of budget (10) till date, followed by <keyword id="22330828" type="General" weightage="20" keywordseo="P-Chidambaram" source="keywords">P. Chidambaram</keyword> with 9 budgets, and Pranab Mukherjee, who has 8 budgets to his credit. In her recent address in parliament, Sitharaman noted that significant social and economic decisions will be a highlight of this budget. Notably, she concluded <keyword id="901788" type="General" weightage="20" keywordseo="pre-budget-consultations" source="Orion">pre-budget consultations</keyword>, which began on June 19th, on July 5th, where she met 20 invitees across 10 groups, including representatives from agriculture, skill development, finance and banking, energy, <keyword id="17408" type="General" weightage="20" keywordseo="Infrastructure" source="Orion">infrastructure</keyword> sector and more. <h2>Key expectations from Budget 2024</h2>Experts note that this budget will mainly focus on improving consumption, and boosting <keyword id="174143" type="General" weightage="20" keywordseo="infrastructure-development" source="Orion">infrastructure development</keyword>. Per reports, the government is also mulling raising the threshold of standard deduction under income tax regimes from the present Rs 50,000 to Rs 1 lakh. Additionally, to boost healthcare accessibility for the underserved in the country, the government is also contemplating to double the annual coverage offered under the <keyword id="20097876" type="General" weightage="20" keywordseo="Ayushman-Bharat-health-insurance-scheme" source="keywords">Ayushman Bharat health insurance scheme</keyword> from the present Rs 5 lakh to Rs 10 lakh over the next 3 years, along with also covering individuals aged over 70. Mr. Tashwinder Singh, CEO &amp; MD, Niyogin Fintech Limited, which offers credit to MSMEs, noted that upcoming regulatory changes should focus on simplifying compliance, taxation policies that encourage entrepreneurship, and incentivise innovations that drive R&amp;D investments. "We hope that the government takes measures to support the lending industry through access to capital and affordable interest rates, enabling entrepreneurs to realize their vision. Furthermore, we look forward to relaxed norms for NBFCs, allowing them to contribute more substantially to the economy. These measures will collectively propel India's economic growth, boost job creation, and position the Indian fintech industry as a strong contender in innovation and entrepreneurship", he continues. As for bolstering green infrastructure and clean energy production, Ms Aditi Balbir, Co-founder, EcoRatings notes that the 2024 union budget should prioritize investments in sustainable infrastructure projects and clean energy solutions, as 70% of greenhouse gas emissions stem from energy, industry, and buildings. "This will create a future-proof foundation for economic growth and help in achieving net-zero targets. Infrastructure is crucial in addressing climate change and meeting diverse societal needs. A transformative overhaul of our current and future infrastructure assets is essential. The budget should introduce financial incentives, such as lower interest rates on loans and dedicated grants, for companies committed to ESG compliance. This will create a clear link between sustainability efforts and economic benefits", she continued. <h2>Focus on Agri-credit, Real Estate in Budget 2024</h2>The government could also raise the target for agricultural loans disbursed during the year by up to 25%, setting the target at Rs 25 lakh crore. The government will also have to revamp the MSP (minimum support price) system in this space, focusing on challenges such as narrow coverage, dipping export competitiveness, discouraging private investment in this space and more. Another area that demands significant attention is real estate. Shubhi Jain, Principal Partner &amp; Head of CRM, Square Yards anticipates significant reforms in the upcoming budget under the new government. Securing industry status will unlock a plethora of legal and administrative benefits, along with much-needed tax incentives. "Also, while government’s focus on affordable housing under PMAY is commendable, recalibrating strategies in light of escalating construction costs is imperative for sustained inclusiveness and effectiveness. Moreover, enhanced tax reliefs and increased deductions on home loans, currently capped at INR 2 lakhs, are pivotal in stimulating demand and supporting prospective buyers", she says. <div type="Article" hostid="261" msid="111946291" title="Union Budget 2024-25 key highlights: Assistance for Nalanda's development as a tourist center" mstype="2" mssubtype="0"></div><h2>Short-term outlook positive, notes Economic Survey </h2>FM Sitharaman presented the Economic Survey 2023-24 in the parliament today, ahead of the budget. The survey noted that the Indian economy had managed to recover and expand in an orderly fashion post the pandemic, with the real GDP growing by 8.2% in FY24. Going ahead, prospects for continued strong growth in FY25 remain robust. India also managed to bring down its current account deficit (0.7% of GDP in FY24), while projecting a 7%+ growth rate in the medium term. On the employment front, the survey noted that AI might moderate India's services export growth by as much as 0.3 to 0.4 percentage points annually over the course of the next decade. As such, greater emphasis and focus is needed on areas like blockchain, artificial intelligence (AI), machine learning, Internet of Things, cybersecurity, cloud computing, big data analytics, augmented reality, virtual reality, 3D printing, and web and mobile development. The Indian labour market indicators have significantly improved over the past 6 years, with unemployment rates dipping to 3.2% in 2022-23. However, even as net payroll additions to EPFO have doubled over the last 5 years, signaling a healthy formal employment market, job creation and increasing women participation in workforce remain key areas of concern. For all updates and latest information related to the budget, don't forget to follow <a href="https://www.businessinsider.in/budget" data-type="tilCustomLink" target="_blank">Budget Insider</a>! SEE ALSO: <a href="https://www.businessinsider.in/budget/news/union-budget-2024-live-updates-finance-minister-nirmala-sitharaman-key-announcements-23-july/liveblog/111942008.cms" data-type="tilCustomLink" target="_blank">Union Budget 2024 Live Updates: FM Sitharaman announces internships for 10 million youth in 500 top companies</a> <a href="https://www.businessinsider.in/budget/news/loan-limit-under-mudra-scheme-to-be-doubled-to-20-lakh-sitharaman/articleshow/111950024.cms" data-type="tilCustomLink" target="_blank">Loan limit under MUDRA scheme to be doubled to ₹20 lakh: Sitharaman</a>

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The COVID-19 death toll in India could be up to 10 times higher than the official 200,000 figure, experts say

Sophia Ankel

A perfect storm of 4 factors has fueled India's harrowing coronavirus surge. Other countries could be next.

Aria Bendix

Cochin Shipyard's profit plummets by 65% under pressure from COVID-19 impact

PTI

PwC India defers appraisals and promotions, freezes hiring and partners to take a 25% pay cut – but jobs are safe

Sanchita Dash

Union Budget 2024: When will it be presented, what time, where to watch and what are various sectors expecting?

Ira Alok Puranik

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