BENGALURU: The Congress-JD(S) coalition government has not just struck a balance in terms of regional and caste representation but now also has the richest MLA in the cabinet in M T B Nagaraj, whose assets are valued at Rs 1,015 crore.
The Kuruba leader and Hoskote MLA was ranked the richest MLA in the country by the Association for Democratic Reforms in September this year.
A Siddaramaiah loyalist, M T B Nagaraj alias N Nagaraju had sought the former Chief Minister’s support to secure a cabinet berth but had to turn to Water Resources minister D K Shivakumar for the backing.
According to his election affidavit, Nagaraj has assets worth Rs 1,015 crore which includes agricultural and commercial properties, other businesses, etc.
The income declared by Nagaraju in his I-T returns for 2016-17 was Rs 104 crore. If the income of his spouse and dependents are added, the annual income stands at Rs 157 crore.
Nagaraj, who lobbied hard for the lone berth allocated to Bengaluru, beat the likes of Roshan Baig and Ramalinga Reddy to make it to the cabinet. Nagaraj has movable assets worth Rs 437 crore and immovable assets of Rs 578 crore.
The 66-year-old Kuruba leader is only a Class 8 pass but is expected to be the financial backbone of the Congress in the upcoming LS elections.