Telangana Chief Minister K Chandrashekar Rao's son KT Rama Rao and daughter-in-law own assets worth over Rs 41 crore, reveal documents they submitted on Monday to contest the December 7 state election. The assets of Telangana's first family have grown considerably over the last four years, show their election affidavits.
KT Rama Rao is 400 per cent richer, with his annual income increasing from Rs 29 lakh in 2014 to around Rs 74 lakh in 2018. His wife Shaimila Kalvakuntla's income shot up from Rs 21 lakh in 2014 to over Rs 4 crore now -- an increase by 20 times.
Rama Rao, popularly known as KTR, submitted documents showing that his wife is richer than him; KTR, a Telangana minister, has Rs 4.93 crore while his wife owns assets worth over Rs 36.68 crore. Their daughter K Alekhya has Rs 19.50 lakh in the bank.
Considered the number two in the Telangana Rashtra Samithi (TRS) government, KTR holds key portfolios including industries, information technology and municipal administration. Like his father, he calls himself an 'agriculturist'. His wife's profession is listed as 'business'.
KTR has declared a total income of Rs 14.57 lakh and agricultural earnings of Rs 59.85 lakh a year. His wife's income is Rs 3.55 crore and she makes Rs 24.65 lakh in agricultural earnings. The couple own land in Medak, Ranga Reddy, Hyderabad and Karimnagar districts, all valued at over Rs 10 crore.
KTR says he has only one car. His father Chandrasekhar Rao or KCR had declared wealth worth over Rs 22 crore but had said in his affidavit that he doesn't own a car at all.
KTR also says in his affidavit that his liabilities are Rs 33.28 lakh while those of his wife total Rs 27.39 crore.
The couple has loaned over Rs 1 crore to KCR.