The Union Minister for Human Resources Development and Congress leader M M? Pallam Raju, owns assets of over Rs 3 crore, according to his affidavit accompanying the nomination for Lok Sabha election from Kakinada in East Godavari district.
Raju filed his papers today before the district returning officer Neetu Kumar Prasad.
Raju was elected to Lok Sabha in 1989, 2004 and 2009. His income as per the 2012-13 return was Rs 12,89,120, while that of his dependents was Rs 2,61,130. His wife had no separate income.
Raju's total assets of Rs 3,25,69,301 include bank deposits of Rs 94,03,995,investments in bonds worth Rs 84,34,384, and investments in Post Office schemes worth Rs 21,65,939.
His immovable assets include a flat in Secunderabad, a plot of land in Kakinada and another in Hospet.
His liabilities including a housing loan from Corporation Bank add up to Rs 3,30,358.
His wife M Mamatha has assets of Rs 1,11,76,009, as per the affidavit.