Naidu Family Wealth: Two-Year-Old Grandson Richer Than Andhra CM
Chandrababu Naidu is the ‘poorest’ in the family with assets worth Rs 2.53 crore.
Information Technology Minister of Andhra Pradesh Nara Lokesh – who is also the son of Chief Minister N Chandrababu Naidu – on Friday, 8 December, made public the assets held by his family. This is the seventh consecutive year that the Telugu Desam Party (TDP) chief’s family has chosen to declare its wealth.
According to the statement made by Lokesh – also the general secretary of the TDP – in the press conference organised by him, Naidu is the poorest in the family and possesses assets worth only Rs 2.53 crore, while his wife, Nara Bhuvaneswari, holds assets worth Rs 25.41 crore.
Lokesh added that Naidu’s liabilities exceeded his assets by Rs 3.58 crore. There has been a decline in his assets when compared to what was declared last year – he had declared assets worth Rs 3.73 crore with liabilities worth Rs 3.06 crore.
Nara Lokesh has assets worth Rs 15.21 crore, while his wife, Nara Brahmani, possesses assets to the tune of Rs 15.01 crore.
Lokesh used this opportunity to take a dig at the party’s political opponents and said:
Lokesh also stated that the family’s main income comes from the Heritage Group, a publicly-listed dairy products company. The family owns 50.60 percent of the shares in the company.
He added that the Congress government under chief minister YS Rajasekhar Reddy had filed nearly 20 cases against the Heritage Group, suspecting irregularities. However, they had to withdraw every case as nothing could be proved.
(This article was originally published on The News Minute and is being reproduced with permission)
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