Telangana's billionaire CM owns no car, lists agriculture as his profession

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.

Saima Siddiqui

Saima SiddiquiBy Saima Siddiqui

Published on 15 Nov 2018 5:27 AM GMT

Telanganas billionaire CM owns no car, lists agriculture as his profession
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Hyderabad: Telangana Chief Minister K. Chandrasekhar Rao, under Indian anti-corruption law, has declared his total assets worth over Rs 20.60 crore but surprisingly neither he nor his wife owns any vehicle.

Rao, who is also the president of Telangana Rashtra Samithi (TRS) has filed his nomination from Gajwel Assembly constituency and has shown agriculture as his primary source of income or as his profession.

As per the 1964 Central Civil Service Conduct Rules, all public servants employed by central or a state government or by any other public authority are required to show total assets owned by them and their immediate family members.

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The TRS chief has immovable assets of worth Rs 12.20 crore which includes 54-acre agriculture land valued at Rs 6.50 crore. For financial year 2017-18 he showed his total income Rs 2.07 crore, where he generated Rs 91.52 lakhs alone from agriculture.

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 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 deposit.

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.

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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.

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 furnished details of 64 cases booked against him during Telangana agitation. However, no summons were issued and no charges were framed against him in any of these cases.

Saima Siddiqui

Saima Siddiqui

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