With Rs 71 lakh in assets, Chandrababu Naidu is poorer than his wife, son

Hyderabad: Continuing with the practice he has been following for the last four years, Andhra Pradesh Chief Minister N Chandrababu Naidu on Friday declared his personal assets valued at Rs 70.69 lakh. "There is no increase in my assets except a minor hike in my bank balance," he told a press conference but did not specify how much his bank balance swelled.

He also declared the assets of his wife Bhuvaneswari, who heads the family's dairy enterprise Heritage Foods, his son Lokesh and daughter-in-law Brahmani. Bhuvaneswari's assets were pegged at Rs 46.88 crore with "no significant change" compared to 2013.

"However, the value of gold possessed by her increased by Rs 60 lakh. There is also no change in Lokesh's assets at Rs 11.04 crore, except that he has a new car," Naidu said. Brahmani, daughter of Telugu film star and MLA Nandamuri Balakrishna, has assets worth Rs 5.32 crore in her name.

"I will submit details of my assets to the Legislature Ethics Committee. From next year, I will declare only my assets while my family members will do it on their own," the Chief Minister added.

He started Heritage Foods in 1992 to support the family financially and himself withdrew from it two years later. Heritage is a listed company. "Since then my wife has been running the business and now my son is assisting her," the TDP leader said.