Tirupati: As Andhra Pradesh is gearing up for the assembly and Lok Sabha elections, affidavits filed by key candidates indicate a steep rise in the assets of senior minister Peddireddy Ramachandra Reddy and his spouse over the past five years.
A cabinet minister from the ruling YSR Congress party, Ramachandra Reddy is contesting again from Punganur. He has declared total assets worth ₹235.4 crore for himself and wife G. Swarna Latha as of 2024.
This marks a massive 79.72 per cent jump from the ₹130.97 crore the couple had disclosed during the previous polls in 2019.
The sharp increase is driven primarily by the swelling value of their immovable assets like property and land holdings.
The minister’s immovable assets have surged from ₹80.47 crore in 2019 to ₹114.25 crore currently. His spouse's immovable wealth has skyrocketed from ₹29.21 crore to ₹96 crore over the same period.
In contrast, the couple's movable assets like cash, jewellery and investments have seen a relatively modest rise, going up from ₹21.28 crore in 2019 to ₹25.15 crore in 2024.
Peddireddy himself owns movable assets worth ₹10.59 crore, a slight dip from ₹11.27 crore last time, while his wife's movable assets have increased to ₹14.55 crore from ₹10.01 crore previously.
The affidavit also reveals that the couple's liabilities have increased. Reddy's outstanding loans have risen to ₹18.50 crore from ₹18.20 crore in 2019. However, Swarna Latha's liabilities have jumped sharply to ₹34.74 crore currently from just ₹2.17 crore earlier.
Interestingly, neither the 10-time MLA from Punganur, nor his wife, own any motor vehicles. They have declared that they possess 50 grams and 1,500 grams of jewellery respectively.
Peddireddy Ramachandra Reddy:Movable Assets: ₹10,59,43,266 (2024); ₹11,27,42,106 (2019)
Immovable Assets: ₹114,25,00,000 (2024): ₹80,47,64,000 (2019)
Liabilities: ₹18,50,96,345 (2024); ₹18,20,78,192 (2019)
G. Swarna Latha:
Movable Assets: ₹14,55,71,623 (2024); ₹10,01,27,821 (2019)
Immovable Assets: ₹96,00,00,000 (2024); ₹29,21,50,000 (2019)
Liabilities: ₹34,74,66,514 (2024); ₹2,17,84,302 (2019)
