Jagan Mohan Reddy, the President of the Yuvajana Sramika Rythu Congress Party (YSRCP,) on the 22nd of March, declared his total net worth.
Jagan Mohan Reddy revealed, he has assets worth Rs. 375 crores and his annual income in the year between 2017 and 2018 was Rs. 25.89 crores.
Mr. Reddy submitted an affidavit, stating the net value of his assets to the Returning Officer (RO) of Pulivendula, when he filed his nomination papers for the upcoming Andhra Pradesh Assembly elections.
In his nomination papers, Jagan Mohan Reddy mentioned his profession as a politician and a public servant. The source of income mentioned in the documents is his salary as a Member of the Legislative Assembly (MLA,) pension from his Member of Parliament (MP) term, rental income, bank interest and agriculture.
Although Jagan Mohan Reddy has movable assets of Rs. 339 crores, which include jewellery and bank deposits, he doesn’t own a car.
According to Reddy’s documents, he has 5.86 kg of gold and diamonds under his wife’s name and 4.19 kg and 3.46 kg of gold and diamonds under his two daughters’ names.
Jagan Reddy said, though he has 4 bulletproof cars under his name, they are not his. The cars, a BMW X5 and 3 Mahindra Scorpios, were registered under his name by the Ministry of Home Affairs.
Mr. Reddy also owns property worth Rs. 34.88 crores, including non agricultural land worth Rs. 8.42 crores, a commercial building valued at Rs.14.46 crores and a house worth Rs. 12 crores in Banjara Hills, Hyderabad.
Reddy also shared about his liabilities, which are worth Rs. 1.19 crores, whereas Rs. 66.68 crore liabilities are in the form of income tax disputes. In addition, he said, he is involved in approximately 31 criminal cases.
Jagan Mohan Reddy will contest the upcoming Andhra Pradesh elections, scheduled on the 11th of April.
The major parties contesting the Andhra Pradesh Assembly elections are the Yuvajana Sramika Rythu Congress Party (YSRCP,) the Telugu Desam Party (TDP) and the Jana Sena Party.
The results of the AP Assembly elections will be announced on the 23rd of May 2019.
Stay tuned for further updates about the Andhra Pradesh Assembly elections.
