2 billionaires among richest 50 re-contesting MLAs in Karnataka

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 BANGALORE: The assets of 50 re-contesting MLAs in the Karnataka Legislative Assembly with assets above Rs.10 crores in 2013 have gone up by over 60 percent during their term. While two top rich MLAs, Priya Krishna (Govindraj Nagar) and N Nagaraju (Hosakote) have become billionaires, three joined the Rs.100-crore club during the tenure of the Siddaramaiah government. All the five re-contesting MLAs belong to the ruling Congress Party.

 

According to the assets declared while filing nomination papers for the Assembly election on May 12, Priya Krishna, son of Housing Minister M Krishnappa, has shown an increase in his assets from Rs.910 crore in 2013 to Rs.1020 crore in 2018 while Nagaraju’s assets went up from Rs.470 crores to Rs.1006 crores during the period.

While Priya Krishna’s assets marked an increase of only 12.1 percent, the assets of Nagaraju represented 136.7 percent increase. The third richest re-contesting MLA is D Shivakumar (Kanakapura). HIs assets went up from Rs.253 crores to Rs.735 crores in the last five years, marking an increase of 190.5 percent.

Highest increase in assets was recorded by Nagamala MLA N Cheluvarya Swamy. His asset went up by 1264.3 percent from a mere Rs.14 crores in 2013 to Rs.191 crores in 2018. The second largest increase was registered by Chamaraja MLA, Vasu with an increase of 318.2 per cent. His asset went up from Rs.11 crores to Rs.46 crores.

An analysis of the affidavits filed by the 50 re-contesting MLAs showed that their total assets increased from Rs.3806 crores in 2013 to Rs.6133 crores during the five-year term of the current Assembly. This marked an increase of 61.1 percent.


Chief Minister Siddaramaiah and his 10 cabinet colleagues figure among the 50 re-contesting MLAs with assets above Rs.10 crores. While the CM declared total assets worth Rs.20.46 crores, BJP’s chief ministerial candidate B S Yeddyurappa reported his total assets at Rs.6.54 crores.

Thirty seven out of the 50 re-contesting MLAs belonged to the Congress Party, four to Janata Dal (S) and nine to the Bharatiya Janata Party. The assets of as many as 12 re-contesting Congress MLAs is worth above Rs.100 crores.

Only one JDS MLA is in the Rs.100 crore club. None of the re-contesting BJP MLAs figured in this category. The assets of seven re-contesting Congress MLAs ranged from Rs.50 crores to Rs.100 crores. Three BJP MLAs and one JDS MLA figured in this category.

As many 24 MLAs have assets between Rs.10 crores and Rs.50 crores. They include 17 Congress MLAs and five BJP MLAs. Only three re-contesting MLAs have assets below Rs.10 crores. They are Appachu Ranjan of Congress Party(Madikeri) and S R Vishwanath (Yelenka) and M Sathish Reddy (Bommanahalli) of the BJP.

All the three have reported a decline in their assets compared to 2013. While Appachu’s asset dropped from Rs.10 crores to Rs.9 crores, the assets of Vishwanth and Sathish Reddy dropped from Rs.22 crores to Rs.8 crores and Rs.41 crores to Rs.2.5 crores respectively during their term.

Another two MLAs who have reported decline in their assets are Pramod Madhav Raj and S Krishna of the Congress. While Madhav Raj’s asset came down from Rs.105 crores to Rs.86 crores Krishna’s dropped from Rs.66 crores to Rs.64 crores.

 

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