Jagadish Shettar's exit will not make a difference to BJP's electoral prospects, says CM Bommai
Bengaluru, Apr 17: Karnataka Chief Minister Basavaraj Bommai said on Monday the exit of Jagadish Shettar from the BJP would have no adverse impact on the party's prospects in the forthcoming Assembly elections, and he was surprised by his decision to join the Congress.
Shettar, a six time MLA and former Chief Minister, parted ways with the BJP after being denied ticket to contest from Hubli-Dharwad (Central), which he represented in the outgoing Assembly.
Bommai dismissed Shettar's charge that he was not given respect in the BJP and there was a conspiracy behind the move to drop him.
Shettar was treated with a lot of respect and the party had given him positions. "In his growth in the last 25 years, the BJP played a main role", the Chief Minister said.
His departure has paved the way for emergence of new leadership in the region, the Chief Minister said.
"There is not going to be any difference (to BJP's electoral prospects)," he said, expressing total confidence that the party will return to power with a clear majority.
Bommai charged the Congress with having a culture of "use and throw."
He said the Congress would honour leaders joining it till the elections; thereafter, within a few months they would face insult. He cited the instances of former Congress Chief Ministers Veerendra Patil, D Devaraj Urs and S Bangarappa, in this regard.
"Despite knowing this, I don't know why Shettar joined the Congress. I am surprised," the Chief Minister added.
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Indian economy likely to be 'a little weaker' in 2025: IMF MD
Washington, Jan 11: The Indian economy is expected to be "a little weaker" in 2025 despite steady global growth, IMF Managing Director Kristalina Georgieva has said.
Georgieva also said she expects quite a lot of uncertainty in the world this year mainly around the trade policy of the US.
In her annual media roundtable with a group of reporters on Friday, she said global growth is expected to be steady in 2025, but with regional divergence.
Georgieva said she expects the Indian economy to be a little weaker in 2025. However, she did not explain it any further. The World Economy Outlook update week will have more details about it.
“The US is doing quite a bit better than we expected before, the EU is somewhat stalling, (and) India a little weaker," she said.
Brazil was facing somewhat higher inflation, she said.
In China, the world’s second-largest economy, the International Monetary Fund (IMF) was seeing deflationary pressure and ongoing challenges with domestic demand, she said.
"Low-income countries, despite all the efforts they are making, are in a position when any new shock can affect them quite negatively,” Georgieva said.
“What we expect in 2025 is to have quite a lot of uncertainty, especially in terms of economic policies. Not surprisingly, given the size and role of the US economy, there is keen interest globally in the policy directions of the incoming administration, in particular on tariffs, taxes, deregulation and government efficiency,” Georgieva said.
“This uncertainty is particularly high around the path for trade policy going forward, adding to the headwinds facing the global economy, especially for countries and regions that are more integrated in global supply chains, medium-sized economies, (and) Asia as a region," she said.
That uncertainty is actually expressed globally through higher long-term interest rates, even though short-term interest rates have gone down, the IMF Managing Director said.
Donald Trump will be sworn in as the 47th President of the United States on January 20, replacing Joe Biden at the White House.
Trump, 78, has announced plans to impose additional tariffs on countries like China, Canada and Mexico. He has publicly announced the use of tariffs as a key policy tool.
On inflation, the IMF expects global disinflation to continue, Georgieva said.
"As we all recognise, the higher interest rates that were necessary to fight inflation did not push the world economy into recession. They have delivered the desired results. Headline inflation is converging back to target sooner in advanced economies than in emerging markets,” she said.
