The Chief Minister of Andhra Pradesh N Chandrababu Naidu has yet again found his name amidst controversy after he declared his assets to the public for the eighth consecutive year. Reportedly, N Chandrababu Naidu has net assets worth Rs 2.99 crore while his three-year-old grandson Nara Devaansh is six-times richer with assets worth Rs 18.71 crore in his name.
The Naidu family which has been voluntarily disclosing its assets and liabilities every year for the last eight years has disclosed the current year’s asset details in which the assets attached to the three-year-old grandson of Chandrababu Naidu, Nara Devaansh saw a huge increase from Rs.11.54 crore in the last year to whopping Rs 18.71 crore.
State Information Technology Minister and Naidu’s son Nara Lokesh at a press conference on Wednesday declared the family’s assets stating that the total assets of the N Chandrababu Naidu and his family have grown by more than Rs 12.5 crore in a year.
The Telugu Desam Party (TDP) chief’s net assets have increased from Rs 2.53 crore to Rs 2.99 crore in a span of one year, while assets attached to his son Nara Lokesh saw a huge increase to Rs 21.40 crore from Rs 15.21 crore in 2017.
Interestingly, Nara Lokesh’s son, three-year-old Devansh grew richer by 7 crores in a span of one year. Devaansh being the youngest in the family is richer than both his father and grandfather. As per the declaration, Naidu’s grandson owns a house in Hyderabad’s posh Jubilee Hills worth Rs 16.17 crore and has fixed deposits worth Rs 2.49 crore.
Chandrababu Naidu’s wife Bhuvaneswari has declared an asset value of Rs 31.01 crore, highest in the family, which increased from Rs 25.41 crore last year. She is the head of Heritage Foods Ltd. Meanwhile, Nara Lokesh’s wife Brahmani’s assets have taken a beating as it has reduced by half to Rs 7.72 crore from Rs 15.01 crore last year. Her liabilities increased from 36.14 lakh to Rs 5.66 crore.
Chandrababu Naidu, who was part of the ruling NDA coalition since 2014, has recently come out of that alliance and switched sides to join hands with Congress in the upcoming elections. Ever since TDP came out of the coalition, it has been very critical of the union government and had also moved an unsuccessful no-confidence motion against the NDA government in the Parliament.
Recently, the Andhra Pradesh government had ‘banned‘ the Central Bureau of Investigation (CBI) from investigating any cases relating to the state. There are speculations that the CBI’s interim director M Nageshwar Rao, who is from Andhra Pradesh, might have initiated an investigation into the affairs of state government, which pre-empted Naidu to ban the CBI.