Worth Rs 400 cr, but does not have a car

Jagan's wealth: assets declared in 2009: Rs 61 cr; declared in 2011: Rs 391 cr; increase: 641%

Hyderabad: The declaration by YS Jaganmohan Reddy that he has assets worth Rs 391 crore, compared to Rs 61 crore in 2009, has kicked off a political storm. Reddy has also declared that his wife has assets worth Rs 55 crore, up from Rs 16.09 crore that she had in 2009.

Reddy, son of former Andhra Pradesh chief minister YS Rajasekhara Reddy, made the mandatory declaration to the Election Commission (EC) he prepares to stand for election from the Kadapa Lok Sabha. His earlier declaration was made in 2009 when he successfully contested from the same seat.

Jagan has also declared liabilities of Rs 2.4 crore while his wife has claimed liabilities Rs 3.3 crore. This means Jagan's net assets stand at Rs 388.33 crore, having grown more than six times in just two years, while Bharathi's net assets are at about Rs 47.27 crore, a three-fold increase.

In May 2009, Jagan contested as a Congress candidate from Kadapa, while father YSR Reddy went on to win a second term as AP chief minister. YSR Reddy died in a helicopter accident in September 2009. Late last year, Jagan quit the Congress, which also meant his resignation as MP. Earlier this year, he floated the YSR Congress party.

If elected, Jagan's new declaration would make him the richest MP in India.

Sponsored Links


Post a Comment

Please Press Like Button below and Enter Email Address

Enter your email address: