Congress asks IT Dept to probe into assets of TRS MLAs

Hyderabad: Welcoming the notices sent by the Income Tax Department to over 40 TRS MLAs, including Chief Minister K. Chandrashekhar Rao, seeking explanation into huge rise in their assets in the last 4-5 years, the Congress party demanded that the IT Department conduct a detailed probe into the issue.

"There is no doubt that many ruling TRS MLAs have accumulated huge wealth through illegal means and their assets were disproportionate to their know sources of income. The IT Department should either conduct a high-level probe or recommend CBI or judicial enquiry into the swindling of public money by the ruling party legislators," Telangana Pradesh Congress Committee (TPCC) Treasurer Gudur Narayana Reddy said in a media statement on Monday.

Gudur Narayana Reddy pointed out that KCR family and other TRS MLAs have earned huge wealth in very a short time. "KCR family has officially entered the Rs. 100 Crore Club. KCR's is apparently the only family to have earned assets of more than Rs. 100 Crore without actually doing any known business. Entire world knows that KCR and all his family members are full time politicians. But all five family members who are in politics have earned huge assets without actually doing any business," he said.

As per the latest affidavits filed by KCR and his family before the Election Commission, they have declared assets of Rs. 111.54 Crore. They include Chandrashekhar Rao - Rs. 23.55 Cr; K. Taraka Rama Rao - Rs. 41.82 Cr; T. Harish Rao - Rs. 11.44 Cr; K. Kavitha - Rs. 17.93 Cr and J. Santosh Kumar - Rs. 16.80 Crore.

While Telangana movement was at its peak, KCR was increasing his assets. He's continued that earning spree even now. His assets increased from just Rs. 85.95 lakh in 2004 to Rs. 23.55 Cr by December 2018. Therefore, KCR's assets have increased by 2,638% since 2004. While three members of the family (KCR, KTR and Harish Rao) cumulatively increased assets of Rs. 18.81 Cr from 2009-2014, their fourth member (K. Kavitha) joined them in 2014 and their cumulative assets increased by Rs. 62.46 Cr in the last 4-5 years. At this pace and also the addition of another member (Santosh Kumar), one can expect the KCR family to add another Rs. 100 Cr or more assets in the next five years, he said.

Gudur Narayana Reddy pointed out that KCR had assets of Rs. 85.95 lakh in 2004. They increased to Rs. 2.26 Cr in 2009; Rs. 15.15 Cr in 2014 and Rs. 23.55 Cr in 2018. His assets have increased by 942% from 2009-2018. Similarly, in less than a decade from 2009-2018, KTR's assets increased by 870% from Rs. 4.31 Cr in 2009 to Rs. 7.98 Cr in 2014 and Rs. 41.82% in 2018. Likewise, Harish Rao's assets witnessed an increase of 1511% from Rs. 71.29 Lakh in 2009 to Rs. 2.96 Cr in 2014 and Rs. 11.44 Cr in 2018. In just five years, Kavitha's assets increased by 190% from Rs. 6.19 Cr in 2014 to Rs. 17.93 Cr in 2019. The overall increase in the assets of KCR's family from 2009-2018 was 1201%. KCR, KTR and Harish Rao were together worth Rs. 7.28 Cr in 2009. With the addition of Kavitha, their cumulative assets increased to Rs. 32.28 Cr in 2014 and now they have declared assets worth Rs. 94.74 Cr. With Santosh Kumar declaring assets of Rs. 16.80 Cr at the time of his election to Rajya Sabha, the total assets of KCR family have increased to Rs. 111.54 Cr, he said.

The Congress leader said it appears that KCR's family was taking all TRS MLAs along in making money. Of 88 MLAs who got elected on TRS ticket, assets of 58 MLAs have increased by more than 50% in the last 4 years from 2014-2018. The assets of 4 MLAs have increased by more than 1000% since 2014. They are Gadari Kishore Kumar (Rs. 1.82 Lakh to Rs. 1.06 Cr); Dasyam Vinay Bhasker (Rs. 31.69 Lakh to Rs. 5.61 Cr); Guvvala Balaraju (Rs. 48.51 Lakh - Rs. 6.96 Cr) and Shakil Aamir Mohammed - (Rs. 1.34 Cr - Rs. 18.91 Cr).

Of 79 MLAs, who had won or contested the 2014 elections on TRS ticket, Gudur Narayana Reddy said as many as 22 had assets only in a few lakhs or below Rs. 1 Crore. But in 2018, the assets of only 4 MLAs were below Rs. 1 Crore. But three of them are very close to join the 'Crorepati Club'. They are Solipeta Ramalinga Reddy - Rs. 92.80 Lakh; Peddi Sudarshan Reddy - Rs. 86 Lakh; Koneru Konappa - Rs. 75 Lakh and Kale Yadaiah - Rs. 37.54 Lakh.

Gudur Narayana Reddy pointed out that as per the assets declared in December 2018 elections, the present assets of 88 MLAs elected on TRS ticket are of nearly Rs. 1290 Cr. In 2014, the overall assets declared by 78 MLAs/Contestants were of about Rs. 700 Cr. Therefore, there has been an increase in assets of TRS MLAs by more than Rs. 500 Cr in the four years.

"This huge increase in assets of TRS MLAs is abnormal and could not be achieved through legal means of doing business. The IT Department must trace the origination of funds which were used to buy assets and also probe into the authenticity of sources of income declared by TRS MLAs in IT Returns. Congress party strongly suspect that the TRS MLAs have accumulated huge wealth through corruption and kickbacks in irrigation and other projects. What many TRS MLAs are possessing today is public money and it should be returned to the exchequer by conducting a fair and in-depth probe," demanded Gudur Narayana Reddy.