Chandrababu declares assets of Rs 35 Cr

Telugu Desam Party president N Chandrababu Naidu on Thursday declared his and his family's assets, totalling about Rs 35.59 crore.

Naidu's assets have come down by nearly Rs 3 crore compared to last year. Naidu's assets of Rs 31.97 lakh as on March 31 this year includes a residential house in Jubilee Hills worth Rs 23.20 lakh, an Ambassador car worth Rs 1.52 lakh and balances in Savings Bank Accounts of Rs 7.24 lakh. Last year Naidu's personal assets were of Rs 39.88 lakh.

Naidu said he was declaring only the acquisition cost and not the market value of the assets since the latter varied from time to time.

Naidu's wife Bhuvaneswari had net assets of about Rs 24.53 crore against the total liabilities of Rs 17.22 crore. Last year, Bhuvaneswari, who heads the Heritage Foods, had assets of Rs 27.18 crore. Her loans and advances too have increased from Rs 12.38 crore last year to Rs 17.38 crore this year.

Naidu's son N Lokesh is worth Rs 6.62 crore against Rs 6.82 crore declared last year. Lokesh's wife Brahmani, daughter of Naidu's brother-in-law and leading Telugu film actor Nanadamuri Balakrishna, has assets of Rs 2.09 crore in her name. Last year, she had assets worth Rs 3.22 crore.

The Jubilee Hills residence, where the family stays, has been pledged with Vijaya Bank as Naidu's wife obtained loan on it for business development.

Talking to reporters at his residence at Jubilee Hills here on Thursday, Naidu said that he has been declaring the assets every year as the Leader of the Opposition. He suggested that all leaders declare their assets to maintain transparency in public life. He ridiculed the allegations of Congress party leaders that he owns assets worth Rs 2,000 crore. He also challenged his political rivals to prove the allegation that he owns a hotel in Singapore and other businesses in Mauritius.

Stating that he was committed for a "Corruption-Free India", the TDP chief expressed concern over the usage of black money in politics. He also said that collection of donations for political parties should be made transparent on the lines of USA. He said legalising political donations would end the unholy nexus between the politics and business.

When asked about his son Lokesh's entry into active politics, Naidu said there was no harm if Lokesh wishes to serve the party as an ordinary worker. Regarding Telangana issue, he said that issue was being discussed in the party and the TDP would soon come out with a clear statement on the issue.