In a disclosure that sheds light on the financial profiles of Telangana's political leaders, it's been revealed that Gaddam Vivekanand of the Congress party stands as the wealthiest MLA in the recently formed Telangana Assembly. Vivekanand boasts declared family assets exceeding a staggering Rs 606 crores.
Among the 119 MLAs, a notable six legislators possess assets surpassing the Rs 100 crore mark, as per the information provided in their affidavits submitted to the Election Commission during nomination filings. Among these six, five belong to the ruling Congress party, while one hails from the Bharat Rashtra Samithi (BRS).
Furthermore, sixteen MLAs have declared assets ranging from Rs 50 crore to Rs 100 crore. A significant majority, accounting for 90 members, possess assets below Rs 50 crore, with a mere seven declaring assets less than Rs 1 crore.
Vivekanand, recognized as an industrialist-turned-politician, secured his seat from the Chennur constituency in Mancherial district after switching allegiance from the BJP to the Congress merely a month before the elections. Renowned as 'Vivek,' he holds the position of founder and chairman at Visaka Industries Ltd., while his wife Saroja serves as the company's managing director. Adding to his profile, the 66-year-old former MP also holds an MBBS degree from Osmania University.
A scion of late G. Venkatswamy, a Congress leader and former union minister, Vivek's brother G. Vinod, also from the Congress, stands as one of the affluent MLAs. Elected from Bellampalli, Vinod declared assets of Rs 197 crore.
Securing the position of the second richest MLA is Komatireddy Rajgopal Reddy of the Congress party, amassing assets totaling Rs 458 crore. He clinched victory from the Munugode constituency in Nalgonda district, having made a return to the Congress after departing from BJP just a month prior to the elections. Ponguleti Srinivasa Reddy, another Congress party member, holds the third spot among the wealthiest MLAs with declared family assets amounting to approximately Rs 434 crore, having won the election from Palair constituency in Khammam district.
The Bharat Rashtra Samithi's lone member in the Rs 100 crore plus asset club is Medak MP K. Prabhakar Reddy, elected from Dubbak, who declared assets of Rs 197 crore.
Remarkably, three Congress party MLAs with the lowest declared assets were elected from constituencies reserved for the Scheduled Tribes. Vedma Bhojju, Balu Naik, and Adinayaran Jare, representing Khanapur, Devarkonda, and Aswaraopet constituencies respectively, declared assets of Rs 24 lakh, Rs 28 lakh, and Rs 56 lakh, making them the legislators with the least wealth among their peers."