Not aware of the case for which I got ED summons, says Karnataka Congress chief DK Shivakumar
Bengaluru, Sep 16: Congress president in Karnataka, D K Shivakumar, who has been summoned by the Enforcement Directorate (ED), on Friday said he was not aware of the case for which he has been asked to appear before the central agency.
Alleging that those who have business transactions with him are being questioned, Shivakumar said he is unable to understand what illegal acts he has committed.
The ED had earlier arrested Shivakumar on September 3, 2019 in a money-laundering case and the Delhi High Court granted him bail in October that year.
The agency had, in May this year filed the charge sheet against him and others in the case which it had registered as a corollary to a complaint filed by the Income Tax (I-T) department.
The I-T department, during the initial probe, had allegedly found "unaccounted and misreported" wealth linked to the Congress leader.
Shivakumar had rejected the charges against him as "baseless" and "politically motivated."
Addressing reporters today, he said: "Everyday people around me, those who have business transactions with me are being called by ED and CBI and are being questioned. I have asked in the High Court about its origins. I do not know about the case registered by ED, only CBI had filed FIR. What FIR has ED filed and why, I don't know."
The former Minister said there was one case in which a charge sheet was filed by the ED, and that he had appeared before the court in connection with that case.
"With regard to the second case, some people are being investigated about me, I don't know why they are doing it. I will try to know about it. They have called me on Monday, I'm discussing with my advocates. The assembly session is on and there is also 'Bharat Jodo march', I have my own responsibilities too."
Calling the action of the ED as "harassment", both Shivakumar and Congress party have questioned the timing of the summons when the Congress' 'Bharat Jodo Yatra' was on and when the State Assembly session was underway.
They have accused the Narendra Modi-headed government at the Centre of having brought the ED - "the Election Dept of BJP"- to target him.
He said he doesn't know what case the ED has summoned him for. In CBI, there is a disproportionate assets case for which the then government led by B S Yediyurappa had given permission (for prosecution), and an FIR has been booked in that case.
Asked whether he will appear before ED, he said, "let's see....but I will cooperate. Our workers are a bit upset looking at the harassment; all those who were with me are being harassed. I'm unable to understand what illegal things I have committed."
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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.
