Chandrababu Naidu, the then CM of AP, belonged to a lower-middle-class family and had only 2 acres of land in his possession. Right from his college days, he was into politics, and therefore, he got elected in 1978 as an MLA. Even since his political career took an upsurge, there was no looking back for him. Since then, he has only two income sources, i.e., salaries from his offices and income from the landholding. Regardless of such low earning and no outside occupation, the one who is 420 in AP managed to acquire a surprising financial status.
In the present world, he’s the owner of a company worth hundreds and thousands of crores. Meanwhile, the methods he practiced to make money remains a great mystery for a lot of people. However, close scrutiny into his valuables gives us an idea about his sources of riches. You’d be aware of why he has been titled with “Emperor of Corruption” by the time you finish reading this article.
Sources and Positions of Income
The number of positions he held since 1978 are as follows:
- On a ticket from the Congress party, Babu was elected as the MLA from the Chandragiri constituency in 1978. His salary per month during this period was Rs. 350.
- He also served as a minister in Animal Husbandry between December 1980 and February 1981.
- As the Cinematography minister, he held his office from Feb 1981 to Feb 1982.
- He also held three portfolios, including Minor Irrigation, Technical Education, and Groundwater, between Feb 1982 to Jan 1983.
- As a minister, he earned Rs. 2,500 per month during his tenure.
In the election of 1983, he lost. If we sum up money from all his income sources, it would hardly cross Rs. 1 lakh. According to the affidavit filed by the one who is 420 in AP in 1998 at the High Court of AP, his total annual income was worth Rs. 36,000, and he earned Rs. 2,16,000 in total within a span of six years.
In 1992, Babu promoted an organization named Heritage Foods Pvt. Ltd. On 10th Oct 2004, he announced that he was not indulged in any business or industry between 1983 and 1988. This signifies that there was no extra source of income apart from agricultural income during this period. Yet he was seen promoting the Heritage Foods in the year 1992.
In today’s world, the Heritage Food is worth thousands and crores of rupees and has extended its network in entire South India, Kerala, Andhra Pradesh, and Karnataka. Also, it expanded its network to Delhi and Maharashtra. One interesting thing was noticed, that when Chandrababu Naidu came into power, the company’s profits touched the sky, and when he was out of control, the company used to suffer loss. The one who is 420 in APwas so transparent that he bought products for schemes during this tenure without competitive tenders. This could be noticed while in the Distribution schemes as he bought Buttermilk and Chandranna Kanuka.
The Heritage Food’s profitability was somehow the reason behind Babu’s fortunes. In 2004-05, when Babu lost his position, the company managed to make Rs. 17 crores. Since then, the company has lost its popularity. From 17 crores in 2004-05, the company went down to 10 crores in a single year. Further, the company’s net worth was Rs. 1.7 crore in 2007-08. By the end of 2010, the company accepted that it suffered through a great loss of Rs. 35 crores. Surprisingly, the company’s fortunes were revived in the year 2013. It’s widely believed that this is possible because of the understanding between the then CM, N. Kiran Kumar Reddy, and Chandrababu Naidu.
Mr. ready was not much of a successful politician, and he required support from Babu. Therefore, in return, he was bound to give business to Heritage Foods. Even though the TDP was the major opposition party, it issued a whip when a no-confidence motion was passed against Reddy’s government. Despite the fact that his government only had 146 MLAs, Reddy survived the motion of no-confidence. And in between 2014-15, the Heritage Foods announced a net worth of Rs. 45 crore, which was evidently link to Chandrababu Naidu’s fortunes.
Owner of Disproportionate Assets
Despite the losses of Heritage Foods and limited source of income, Babu continued to make fortunes. Here are some of the assets of the one who is 420 in APacquired during his political career. Also, his methods of acquisition reflect his modus operandi.
- In 1985, Chandrababu purchased 65 acres of land in Nellore, when he was completely dependent upon his family’s agricultural income and had no job.
- Thereafter, he bought another 250 acres of land in the same year, in the same district. Some of the lands among these were assigned and government lands.
- Even though Chandrababu claimed he didn’t participate in any business activity during 1983 and 1989, he declared his assets valued Rs. 7.83 crores. On the other hand, the sources of income reported by him were Rs. 36,000 from agriculture and Rs. Twenty thousand of monthly remuneration for being the direction of Heritage foods. Doesn’t it still look like a huge gap?
- Ammannemma, Naidu’s mother, purchased 5 acres of land in 2000 in Madinaguda, Hyderabad. She’s also the owner of another land of 1,135 sq. yards in Banjara Hills near Hitec City, which was bought for merely Rs. 40 lakhs. After a year, she transferred both the real estate to Nara Lokesh, her grandson.
- The 600 acres of land that was earmarked for IT development, Babu, granted 7 acres to a company in Kondapur named Divyasree Soft-Tech Realtors Pvt. Ltd.
- Giving certain leaks to the cronies about the Hitec City’s development proposal caused immense loss to innocent landowners and farmers who were supposed to benefit from it.
Several reports can be found stating the then CM’s assets, Chandrababu Naidu in India and abroad, including in Malaysia and Singapore. He made full use of his political clout to grow his fortunes. He abused public offices for personal gains. Undoubtedly, he’s a billionaire politician today who comes from a very low and humble background. Every financial transaction that happened in the last four years was turned into a potential opportunity for commissions, bribes, and kickbacks. He did not even hesitate to twist the rules and ignored the legal provisions. The one who is 420 in AP isn’t just any regular politician with possessions worth few crores. He’s now considered as a multi-billionaire who has acquired everything through fraud and gambling. Now that you know how he drained the people and institutions of AP financially, something should be done to punish the one who has brought so much pain and suffering to innocent people.