Telugu Desam Party chief Chandrababu Naidu for all his faults continues to reveal the latest assets and liabilities of all the five family members in a bid to showcase transparency and urging his opponents to do the same. When Naidu’s son Lokesh revealed the family’s assets and liabilities earlier this month, six-year-old Nara Devansh continues to be richer than his grandfather Chandrababu Naidu. Devansh is richer by nearly Rs 15.55 crore in terms of assets.
For the ninth straight year, the apex family of TDP declared their assets and liabilities. As per the declaration, the net worth of Naidu’s assets is Rs 3.87 crore by March 31, 2019. Devansh possesses assets worth Rs 19.42 crore. Devansh is richer than his father Lokesh too.
Lokesh has declared assets worth Rs 19 crore. Brahmani has assets worth Rs 11.51 crore. Devansh’s assets have witnessed a sharp spike as his assets have grown by almost Rs 70 Lakhs as compared to last year while continuing to having no liabilities. Naidu has witnessed a 29.5% increase in his assets as the net worth of his assets is Rs 3.87 crore, which is 88 lakh more than the Rs 2.99 crore net worth of the preceding year. The net worth of Bhuvaneswari’s assets have also grown from Rs 31 crore to Rs 39.58 crore.
The family has attributed the increase to the rise in the value of the shares they owned in Heritage Foods. Describing Heritage as the basic source of income for the family Lokesh said Heritage has milk business in 15 states while owning assets in 9 states.
The family has often courted controversy during the declaration as the values declared are as per the purchase value and not the market value. The numbers will be a lot higher if they released the assets based on their market values. However, like every year, Lokesh declared that the family would gift to those persons if they prove any undeclared assets in the name of any of the five family members.
As of 2016, the Naidu family has assets of Rs 600 million which has only increased over the years. Credit where due, the Naidus must be commended for voluntarily revealing their family assets and liabilities — which should be a norm for every political party.