VIJAYAWADA: Does money matter in one becoming a public representative and making it big in politics, as it’s often said? The answer seems to be an emphatic ‘yes’ if the assets declared in the poll affidavits by the candidates slugging it out to make it to the 17th Lok Sabha are any indication.
As yet another round of the game of thrones is just round the corner, TNIE did the number crunching to find that 90 of the 117 contestants from the major political parties like TDP, YSRC, Jana Sena, BJP and Congress have assets (movable and immovable) worth at least Rs one crore, making the elections a clash of the crorepatis.
While the TDP has the most number of contestants — 24 of 25 — with at least Rs one crore worth of assets, the YSRC has 22 of 25 of its candidates in the rich list. Fourteen of the 18 Jana Sena candidates and 19 of the 24 BJP candidates also made it to the list. Congress, which is contesting all the 25 LS segments, has the least number of crorepatis at 11.
The list is topped by TDP candidate and sitting MP from Guntur, Galla Jayadev. The businessman-turned-politician declared assets (only in his name) worth Rs 266.43 crore with liabilities of Rs 20.34 crore.
Jayadev is followed by YSRC’s Narasapuram candidate K Raghurama Krishna Raju whose personal assets are worth Rs 187.8 crore and he has liabilities to the tune of Rs 68.3 crore.
Speaking to TNIE on being the richest MP candidate, Jayadev observed, “I am one of the highest taxpayers in Andhra Pradesh and Telangana. Through my businesses, I am contributing to wealth creation and nation-building. All my business transactions are transparent.”
It maybe recalled that Amara Raja Batteries, owned by Jayadev and family, has been the highest income tax payer in the last two years.
But, if the assets in the name of the family members of Raghurama Krishna Raju and Jayadev are taken into account, both the candidates would well be in the Rs 300-crore club with Rs 325 crore and Rs 305 crore worth assets respectively.
But, it is YSRC’s Vijayawada MP candidate Potluri V Prasad, who beats both of them hands down with Rs 347 crore, if his family’s assets are also factored in. His individual assets, otherwise, are worth Rs 85.3 crore with liabilities of Rs 2.91 crore.
TDP’s Visakhapatnam candidate and son-in-law of ruling party MLA N Balakrishna, M Sri Bharat, has assets worth Rs 195.5 crore. If his spouse’s assets are added, Bharat makes it to the Rs 200-crore club with Rs 230 crore. His rival and YSRC’s candidate MVV Satyanarayana declared assets worth Rs 158.54 crore and Rs 10.5 crore liabilities.
YSRC’s A Prabhakar Reddy from Nellore has Rs 116.32 crore assets and liabilities of Rs 11.07 crore, while his opponent from the TDP, Beeda Mastan Rao, has Rs 114.7 crore worth of assets and liabilities of Rs 56.6 crore.
TDP’s DA Satya Prabha from Rajampet also figured in the Rs 100-crore club with Rs 127.79 crore assets with Rs 65 lakh liabilities. If Satya Prabha’s Hindu Undivided Family (HUF) assets are taken into account, she has over Rs 220 crore worth of properties.
Interestingly, TDP’s Kurnool strongman Kotla Suryaprakash Reddy with Rs 1.04 crore worth of assets pales in comparison with the other candidates. He has liabilities to the tune of Rs 14.5 lakh. “Even though my father was chief minister twice, we have always had a simple life. I am a farmer. People will vote for us based on the work my family has done. Money has no role in it,” Kotla told TNIE.
There are 27 candidates who have assets worth less than Rs one crore. YSRC’s G Madhavi from Araku Lok Sabha constituency has Rs 1.41 lakh worth of assets.
The cumulative value of all the assets declared by the 117 candidates (excluding family property) is over Rs 1,653 crore. On an average, each MP contestant is worth Rs 14.1 crore.