Andhra Pradesh sinking in debt, Chandrababu Naidu's net worth nearing ₹1k Cr, says YSRCP after ADR report on richest CMs

The Yuvajana Sramika Rythu Congress Party (YSRCP) has slammed Andhra Pradesh Chief Minister Chandrababu Naidu, accusing him of prioritising personal wealth accumulation over the state's development.

The opposition party's reaction came after Naidu emerged as wealthiest chief minister of India, with a declared net worth of ₹931 crore, according to a report released by election watchdog Association for Democratic Reforms (ADR) in a report on December 30.

The Telugu Desam Party (TDP) chief is followed by Pema Khandu of Arunachal Pradesh, who has declared a net worth of ₹332 crore. At number three in the list of wealthiest chief ministers of India is Karnataka's Siddaramaiah, who has a declared net worth of ₹51 crore.

Addressing the media at the party's central office YSRCP spokesperson Puttha Sivasankar Reddy referred to the latest ADR report. Naidu's declared wealth accounts for 58 per cent of the total wealth of all 31 CMs surveyed by the election watch dog.

Reddy alleged that the real market value of Naidu's assets could exceed ₹1 lakh crore, raising serious questions about the sources of such wealth. He accused Naidu of using the state's financial distress as a cover.

"While the state is sinking in debt, Chandrababu's assets are skyrocketing," Reddy alleged, underlining that the shares of Heritage Foods, owned by Naidu's family, saw a notable rise since the TDP returned to power.

Reddy, adding to his allegations, lashed out at the "yellow media" for disregarding the ADR findings to protect Naidu's image. "Chandrababu, who once claimed he had no watch, ring, or money in his pocket, has now been exposed as a billionaire," Reddy accused.

He alleged that Naidu's governance only enriches his family, leaving the state burdened with debt and economic stagnation.

Mamata 'Poorest'

Among the poorest chief ministers, Mamata Banerjee of West Bengal has declared assets worth ₹15 lakh. The TMC chief is followed by Omar Abdullah of Jammu and Kashmir, who has a declared wealth of ₹55 lakh, and Pinarayi Vijayan of Kerala, who has assets worth ₹1 crore.

Naidu was sworn in as the Chief Minister of Andhra Pradesh for the fourth term on June 12, 2024. Janasena chief and actor Pawan Kalyan also took oath as a minister in his cabinet. The swearing-in ceremony was held at Gannavaram Mandal, Kesarapalli IT Park.

(With ANI inputs)