Country’s richest MLA will contest Karnataka elections, assets increased by 600 crores in 5 years

The countdown for the Karnataka elections has begun. Apart from Congress and BJP, other parties of the state have started announcing their candidates. BJP has fielded a candidate who is the richest MLA of the country. He has got this title in the last assembly also. Wearing this, he was in the Congress, who later joined the BJP. There are more than 4000 MLAs in the country, none of them have as much wealth as this candidate has. His name is N Nagaraju. On Monday, he has submitted his affidavit to the Election Commission. Where he has given information about his income and source. Let us also tell you why he is called the richest MLA of the country?

country’s richest legislator

Karnataka minister N Nagaraju, one of the country’s richest politicians, has declared total assets worth Rs 1,609 crore while filing his nomination for the May 10 assembly elections in the state. He filed his papers on Monday as the ruling BJP’s candidate from the Hoskote assembly constituency on the outskirts of Bengaluru. In his election affidavit, Nagaraju has described himself as a farmer and businessman. His wife M Shanthakumari, a housewife, has total movable assets of Rs 536 crore. The immovable assets of both the husband and wife are Rs 1,073 crore.

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In 2020, assets worth Rs 1220 crore were declared.

Nagaraju is currently MLC. While contesting the Legislative Council elections in June 2020, he along with his wife had declared assets worth about Rs 1,220 crore. In the current affidavit, the couple has declared a total liability of Rs 98.36 crore. Nagaraju (72), who has studied till class 9, has given his source of income as agriculture, house property, business and other sources, and his wife also has house property and other sources.

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59 percent increase in five years

Five years ago i.e. in 2018, he contested from Hoskote assembly constituency on a Congress ticket. At that time he had declared his net worth as Rs 1,015. This means that in five years, there has been an increase of about Rs 600 crore in the property of Nagaraju. If it is seen in percentage, then there has been an increase of 59 percent in the property of Nagaraju. Which is quite a lot.

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Broke ties with Congress and joined BJP

Nagaraju had won from Hoskote assembly constituencies from INC in the 2018 assembly elections. He was one of the 17 MLAs who later defected to the party, which led to the fall of the Congress-JD(S) coalition government in 2019. In the subsequent bypolls, he lost from Hoskote against independent candidate Sharath Bachegowda, who is now with the Congress. Both have become bitter rivals of each other, once again face to face.

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