LIVE: India took various steps to offset Covid impact, FM tells World Bank

The finance ministry on Friday kicked off the exercise to prepare the annual Budget for 2021-22 amid the urgency to push economic growth hit by the Covid-19 pandemic. Stay tuned for LIVE updates:

8:19 PM

Govt has no strategy to deal with coronavirus pandemic, revive economy: Congress

The Congress Friday hit out at the Modi government alleging it has no strategy to fight the coronavirus pandemic or revive the economy and is instead busy in building narratives which run counter to the reality.

Addressing a press conference, Congress spokesperson Supriya Srinate said the government instead of building "false narratives" should get down to doing the right things that will increase consumption, investment and jobs.

Citing grim International Monetary Fund (IMF) projections, she alleged India will become the "fastest falling economy" from being the fastest growing economy.

She also cited the IMF projections of 10.3 per cent contraction in India's GDP, which is the highest in the world after the UK's 9.8 per cent.

7:56 PM

Virus at 'turning point' in Europe, hitting at-risk groups

Doctors are warning that Europe is at a turning point as the coronavirus surges back across the continent, including among vulnerable people, and governments try to impose restrictions without locking whole economies down.

With newly confirmed cases reaching records, the Czech Republic has shut schools and is building a field hospital, Poland has limited restaurant hours and closed gyms and schools, and France is planning a 9 pm curfew in Paris and other big cities. In Britain, authorities are closing pubs and bars in areas in the country's north, while putting limits on socializing in London and other parts of the country.

This is a serious situation that should not be underestimated. It is serious on a European level,'' Italy's health minister, Roberto Speranza, said Friday.

7:39 PM

Merkel: EU summit on China called off as virus resurges

A planned European Union summit on the bloc's China policy that was to be held in Berlin next month has been called off because of the resurgent coronavirus pandemic, German Chancellor Angela Merkel said Friday.

The 27-nation EU's leaders had planned to meet in Berlin on Nov. 16 to discuss policy toward China.

Merkel said after an EU summit in Brussels on Friday that the meeting won't go ahead.

We will have to do without it, because I think that is a necessary message in terms of (reducing) contacts, she added.

7:18 PM

7:05 PM

FinMin kick-starts Budget making exercise amid contraction pressure

The finance ministry on Friday kicked off the exercise to prepare the annual Budget for 2021-22 amid the urgency to push economic growth hit by the Covid-19 pandemic.

The upcoming Budget will be crucial for the country as it will have to deal with impact of pandemic which has affected all segments of the economy, including revenue collection, disinvestment, expenditure, exports and food prices.

The economy is projected to contract by a massive 10.3 per cent this year, according to an IMF forecast. Even the Reserve Bank of India expects the economy to shrink by 9.5 per cent in the current financial year.

6:57 PM

Cultural ministry issues SOPs for artistes to hold events online, claim benefits of govt schemes

The Culture Ministry Friday issued guidelines for holding events in online mode, allowing artistes to take benefits of government schemes even if they are unable to hold such programmes in physical settings owing to the COVID-19 pandemic.

The ministry said the guidelines will ensure continued financial assistance to artistes and help them tide over the present crisis.

In a statement, the ministry said there has been a substantial impact on the performing arts and cultural sector with in-person exhibitions, events, and performances either cancelled or postponed due to the coronavirus outbreak.

6:47 PM

India on road to be trans fat free by 2022: Harsh Vardhan

Union Health Minister Harsh Vardhan on Friday said that due to the unprecedented challenges faced by the world on account of the coronavirus pandemic, there has been a renewed focus on food, nutrition, health, immunity and sustainability.

Presided over an event organised by the Food Safety and Standards Authority of India (FSSAI) to celebrate World Food Day, he said: The "FSSAI's Eat Right India movement targets to promote safe and healthy food for everyone in an environmentally sustainable way. It is a part of its mandate to provide safe and wholesome food for all citizens. This will improve the food safety ecosystems and lift the hygiene and health of our citizens."

Minister of State for Health and Family Welfare Ashwini Kumar Choubey also joined, via video conferencing, the event, whose theme this year's event is "Grow, Nourish, Sustain. Together".

6:44 PM

Madras HC judge turns emotional over plight of govt school students

A judge in the Madras High Court bench in Madurai on Friday turned emotional on the delay in taking a decision on the 7.5 per cent reservation for students of government schools in medical college admissions.

The state government told the court that it will not come out with the prospectus for medical college admissions till Governor Banwarilal Purohit takes a decision on the Bill for reservation for students of government schools.

The Bill passed by the state Assembly unanimously to provide 7.5 per cent horizontal reservation for students of government schools in medical college admissions was sent to Purohit for his assent.

The Governor is yet to take a decision on the Bill.

6:42 PM

Prepare for no-trade deal Brexit, Johnson says, but talks to continue

Prime Minister Boris Johnson said on Friday it was now time to prepare for a no-trade deal Brexit in 10 weeks time unless the European Union fundamentally changed course, though Brussels said talks would continue.

A tumultuous "no deal" finale to the United Kingdom's five-year Brexit crisis would sow chaos through the delicate supply chains that stretch across Britain, the EU and beyond - just as the economic hit from the coronavirus pandemic worsens.

At what was supposed to be the "Brexit summit" on Thursday, the EU delivered an ultimatum: it said it was concerned by a lack of progress and called on London to yield on key sticking points or see a rupture of ties with the bloc from January 1.

"I have concluded that we should get ready for January 1 with arrangements that are more like Australia's based on simple principles of global free trade," Johnson said.

6:05 PM

Rains likely in Kolkata, other parts of Bengal during Durga Puja

A low-pressure area brewing over the Bay of Bengal is likely to cause rains in Kolkata and other parts of West Bengal during the Durga Puja, weather officials said on Friday.

The low-pressure area is likely to form around October 19 and be more marked thereafter, they said.

Though the system is likely to move towards the Odisha-Andhra Pradesh coast, south-westerly wind flow will enhance in West Bengal, resulting in the probability of rain, the Met department said.

6:03 PM

Kerala launches portal to support pandemic-hit MSME sector

The Kerala government on Friday launched an online portal for speedy and transparent delivery of concessions, including interest subsidy for the revival of Micro Small and Medium Enterprises, hit badly by the economic downturn triggered by the Covid-19 pandemic.

The portal, inaugurated by Industries minister E P Jayarajan, carries all the details of various measures under the Vyavsaya Bhadratha Package, including financial support and concessions for MSMEs reeling under the impact of the pandemic.

6:01 PM

Farm sentiments remain positive led by good monsoon: Report

Farm sentiments have remained buoyant mainly driven by healthy monsoon and further optimism of a good kharif crop, according to a report.

Agriculture income is likely to benefit over the medium term aided by increased government focus on rural income coupled with the recently introduced farm reforms, Icra Ratings said in the report.

Moreover, it said the rural household incomes have stayed resilient in the face of the COVID-19 pandemic and have been supported by healthy farm cash flows across regions, aided by high levels of rabi procurement under various government schemes after a season of bumper harvest.

5:34 PM

Stubble burning role in Delhi's foul air to be lesser this year: CPCB

Amid the massive spike in air pollution in Delhi and ts surroundings, the Central Pollution Control Board (CPCB) on Friday claimed that stubble burning in Punjab, Haryana and other neighbouring regions may not contribute much to city's deteriorating air quality this year.

The air pollution reaches a peak in Delhi and surrounding regions every winter, when pollution from stubble burning combines with the suspended water droplets in the lower atmosphere to form a thick blanket of noxious smog.

"This time, we are expecting that the peak contribution of the stubble may not coincide with the peak adverse meteorology in Delhi. We may see less contribution of stubble burning in Delhi's air quality, but it depends on meteorological conditions," CPCB Member Secretary Prashant Gargava said at a press conference.

5:30 PM

Climate change drove early human species to extinction, study says

Climate change likely played a major role in driving early human species to extinction, according to a modelling study published on Friday which researchers said serves a "thunderous warning message" to humans today.

Of the six or more different species of early humans, all belonging to the genus Homo, only Homo sapiens have managed to survive.

The study, published in the journal One Earth, combined climate modelling and fossil record to search for clues to what led to all those earlier extinctions of our ancient ancestors.

5:28 PM

Centre should now work to re-establish trust with states: Chidambaram on GST row

After the Union government agreed to borrow Rs 1.10 trillion on behalf of states to meet the GST shortfall, Congress leader P Chidambaram said Friday that the Centre has taken the "correct first step" and it should now work to re-establish trust with them.

"I welcomed the change of heart," he tweeted and asked the Centre to clarify how the debt of states will be serviced and repaid.

"Having taken the correct first step, I urge the PM and the FM to take the second step also and re-establish the trust between the Centre and the States," the former finance minister said on Twitter.

He said Union Finance Minister Nirmala Sitharaman has written to the states that the central government will borrow Rs 1,10,208 crore and give them "back-to-back loans".