Hyderabad The by-election to the Kadapa Lok Sabha constituency in Andhra Pradesh has once again drawn attention to the wealth of the young politician and rebel Congress leader Y.S. Jaganmohan Reddy.
In his declaration of assets, while filing his nomination papers for Kadapa elections, Jaganmohan Reddy declared assets of Rs3.65 billion (Dh298.5 million). In addition, his wife Bharati has assets of Rs413.3 million.
That means that if he is elected to the Lok Sabha in the by-elections slated for May 8, he will be the richest member of the Indian Parliament.
The enormous wealth of the couple has raised eyebrows in the state and the country as their assets were only Rs773 million in 2009 and Rs174 million in 2004 when his father Y.S. Rajasekhar Reddy had led the Congress to power in the state.
Jagan's latest declaration of assets has added fuel to the opposition's demand for a thorough probe into the means of his earnings alleging it was ill-gotten wealth accumulated during his father's rule.
Fierce campaign
This has added to the already fierce campaign in the Kadapa Lok Sabha constituency and Pulivendula Assembly constituency.
The assets do not include a car as neither Jagan nor his wife have one, according to the declaration. Bharati however has gold jewellery and diamonds worth Rs38 million.
The immovable assets of Jagan include agriculture and non agriculture land, commercial and residential buildings at different places including Hyderabad.
Jagan is a businessman with diverse interests in power sector, cement manufacturing, property and media.
There have also been many demands from within the ruling Congress Party for a probe into the increased assets of Jagan.
State Congress spokesman Tulsi Reddy demanded that Jagan should clarify how he earned so much wealth in such a short period of time.
"There are many doubts in the minds of the people. Jagan should immediately clarify", he said.
Alleging that Jagan gained his new-found wealth through illegal means, Tulsi Reddy said the people of Kadapa would teach him a lesson.
In his declaration of assets, while filing his nomination papers for Kadapa elections, Jaganmohan Reddy declared assets of Rs3.65 billion (Dh298.5 million). In addition, his wife Bharati has assets of Rs413.3 million.
That means that if he is elected to the Lok Sabha in the by-elections slated for May 8, he will be the richest member of the Indian Parliament.
The enormous wealth of the couple has raised eyebrows in the state and the country as their assets were only Rs773 million in 2009 and Rs174 million in 2004 when his father Y.S. Rajasekhar Reddy had led the Congress to power in the state.
Jagan's latest declaration of assets has added fuel to the opposition's demand for a thorough probe into the means of his earnings alleging it was ill-gotten wealth accumulated during his father's rule.
Fierce campaign
This has added to the already fierce campaign in the Kadapa Lok Sabha constituency and Pulivendula Assembly constituency.
The assets do not include a car as neither Jagan nor his wife have one, according to the declaration. Bharati however has gold jewellery and diamonds worth Rs38 million.
The immovable assets of Jagan include agriculture and non agriculture land, commercial and residential buildings at different places including Hyderabad.
Jagan is a businessman with diverse interests in power sector, cement manufacturing, property and media.
There have also been many demands from within the ruling Congress Party for a probe into the increased assets of Jagan.
State Congress spokesman Tulsi Reddy demanded that Jagan should clarify how he earned so much wealth in such a short period of time.
"There are many doubts in the minds of the people. Jagan should immediately clarify", he said.
Alleging that Jagan gained his new-found wealth through illegal means, Tulsi Reddy said the people of Kadapa would teach him a lesson.
