JaganMohan Reddy to Become Richy Rich MP:
Jaganmohan Reddy filing his nomination papers from the Kadapa Lok Sabha constituency in Andhra Pradesh has declared his assets of Rs.365 crore.He could become one of India’s richest Members of Parliament (MP).The son of Y S Rajasekhara Reddy has provided assets worth Rs 363 crores, apart from the properties, cash and jewelery in his wife Bharati's name worth Rs 77.43 crores.JaganMohan Reddy a former congress MP has created headache for ruling Congress party after he left congress starting a new party YSR congress Party.Many top AP congress leaders have been supporting Jagan and have joined YSR congress Party.
How Jagan Became Richer:
It took years of hard work and luck for TATA, INFOSYS ,and many other top corporate heads to setup multi-billion firms ...but it took just a matter of 5 to 8 years for Jagan to build Rs.365crores worth business empire.Jagan has shares in top cement and power projects spread across south India. He also owns Sakshi TV and newspaper in Andhra Pradhesh.
In 7 years 44,6481 per cent Increase in Wealth:
In 2004 Jagan's assests were just worth 8.19lakhs,this was when his Father YSR was not yet the chief Minister of Andhra Pradhesh,But in 2009 Jagan elected as Mp in a Congress ticket declared his assets as Rs.77.40 crores.A increase of 372 percent of wealth in 5 years when YSR completed his first term as Chief Minister. Now the present assests are worth Rs.363 crores a staggering increase of 446481% from 2004 to 2011.
Its clear how Jagan has used his fathers power to improve his business,Its only after the YSR became CM Jagan has invested in Big projects and established his business empire.Or may be its Jagan's skills and management techniques which may have helped him to turn into a business magnet.People of Andhra have great respect to Jagan's father late CM YSR Reddy ,YSR started and implemented various policies for the benefit of poor even though he looted and robbed the nation's wealth.