Telangana CM KCR Declares Total Assets Worth Over Rs 20 Crore

Telangana chief minister K Chandrasekhar Rao.

(Photo: IANS)

Telangana caretaker Chief Minister and Telangana Rashtra Samithi (TRS) President K Chandrashekhar Rao, who filed his nomination from Gajwel Assembly constituency on Wednesday, has declared his total assets worth over Rs 20.60 crore, but stated that neither he nor his wife owns any vehicle, despite being known for travelling with a massive convoy of swanky cars in the city and the state.

His total movable assets are valued at over Rs 10.40 crore while his wife K Shobha has movable assets of over Rs 94.5 lakh.

KCR, as Rao is popularly known, has immovable assets of about Rs 12.20 crore which includes 54-acre agriculture land valued at Rs 6.50 crore.

The TRS chief, in the affidavit filed before the returning officer, has shown agriculture as his profession. He pegged his income for financial year 2017-18 at Rs 2.07 crore including agricultural income of Rs 91.52 lakh.

KCR declared that he has investments of Rs 4.71 crore in shares of Telangana Broadcasting Private Limited. He has Rs 5.63 crore in bank accounts and fixed deposits.

The chief minister owns a house in Hyderabad and another in Karimnagar, together valued at Rs.5.10 crore. He also has 2.04 acre non-agriculture land in Siddipet district valued Rs 60 lakh.

KCR owns 75 grams of jewellery worth Rs 2.40 lakh and has Rs 2.40 lakh cash in hand while Shobha, a housewife, has 2,200 grams of gold jewellery, diamonds and valuables gems/stone worth Rs 93,66,184 and Rs. 93,595 cash in hand.

According to the affidavit, KCR has liabilities to the tune of Rs 8.88 crore in the form of unsecured loans. He has no bank loans but declared that he owes his son and caretaker state IT Minister KT Rama Rao Rs 82.82 lakh, money which was reportedly spent on a shed at one of KCR’s homes.

While filing affidavit during 2014 elections, KCR had declared total assets of Rs 16.94 crore. His income for the financial year 2012-13 was Rs 6.59 lakh.

KCR also provided details of 64 cases booked against him during Telangana agitation. No summons were issued and no charges were framed in any of these cases.

Before filing his nomination, Rao offered prayers at Lord Venkateshwara temple at Konaipally village, a practice he has been following for over three decades.

KCR has not lost any elections since 1985. He tasted defeat only in 1983, which was his first election. Accompanied by caretaker Irrigation Minister and his nephew T. Harish Rao and other TRS leaders, KCR offered prayers at the temple and placed his nomination papers at the feet of the deity.

The 64-year-old, a strong believer in astrology, numerology and vastu, has been elected to the Assembly seven times and to the Lok Sabha twice. Harish Rao, too, filed his nomination from Siddipet constituency after participating in the rituals with KCR.

According to Harish’s affidavit, the total assets that he owns is worth around Rs 3.90 crore. However, reports suggest that there was a massive growth in his investments in property; land and jewellery, which grew from Rs 45 lakh in 2014 to Rs 3.46 crore as per his latest affidavit.

KCR dissolved the Assembly on 6 September, nine months before its term was to end, and decided to go in for early polls, blaming the 'baseless' allegations by the Opposition parties for his move. The elections to the 119-member Assembly are scheduled to be held on 7 December and the counting of votes will take place on 11 December.

(The story was first published on The News Minute and has been republished in an arrangement.)