Quick Links

    cricketnext

    News

    Jagan's assets multiplied four times in 2 years

    Hyderabad: Jagan Mohan Reddy is one of the richest politicians in India. He had declared assets of Rupees 365 crore on his nomination for the May 8 bypoll to Kadapa Lok Sabha seat, which in fact doesn't surprise every one for the fact that most of the richest MPs come from Andhra Pradesh. But what raised many eyebrows is the sudden increase of Rupees 250 crore in a span of just two years. The opposition has already started training its guns against him.

    Nama Nageswar Rao, TDP MP, says, "Is this some kind of magic, even I am a businessman but what are these numbers? This is illegal money obviously."

    Jagan's wife Bharati owns assets worth Rupees 41.33 crore and the total worth of the couple is a staggering Rupees 400 crore. This does not include his investments in mutual funds, non-agricultural land and shares of the couple in more than half a dozen companies. If Jagan Mohan Reddy wins, he will be the second richest MP in India, only next to Vijay Mallya, whose declared assets is worth Rupees 610 crore.

    "He has not declared half his assets as he doesn't have a proper source. We will take this matter to the EC and complain. His houses in Hyderabad have not been listed. It's so evident, anybody can go and verify it from the location," adds Rao.

    While the Kadapa elections are being seen as the first face off between the Congress high command and Jagan Mohan Reddy, the enormous rise in Jagans wealth seems to have empowered opposition candidates with ammunition for the campaign phase. Question is will the people of Kadapa help Jagan Reddy silence the corruption charges with his first independent victory?