Naidu explains rationale of asset declaration

Chandra Babu Naidu today dashed at the opposition parties for making insane comments against his recent asset declaration of his family. Naidu made these comments while announcing central committee for his jubilant party in this morning. Recently, YSRCP leader Ambati Rambabu and TSR party leader Talasani Srinivas Yadav questioned the rationale of asset declaration.

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Naidu simply explained rationale about his asset declaration by stating that the assets value shown in the balance sheet are the value of the assets at the time of acquiring them not on the current value which may increase or decrease as per market value. He consummated this practice as per general accounting practice followed for preparing balance sheets.

He also advised to stop make unwise comments without knowing basic accounting standard. He also challenged the other party leaders to declare their assets in his lines. The net worth of the assets of the entire family were in the tune of 47.3 Crore with Heritage currently valued at 913 Crore and is earning a net profit of 30 Crore every year.