At 44, Mr Khandu is also the country's youngest chief minister.
Arunachal Pradesh Chief Minister Pema Khandu has exhorted voters to join his campaign against "money culture" in elections and help him make the next polls about performance and not money. The BJP leader has also said that a politician who expends crores on getting elected will spend the next five years trying to recover it.
According to data from election watchdog Association for Democratic Reforms (ADR), Mr Khandu is the second-richest chief minister in India with assets of over Rs 163 crore declared in his election affidavit. At 44, he is also the country's youngest chief minister.
Addressing a big public meeting at Yachuli in Lower Subansiri district, Mr Khandu urged people to help him to ensure that the Assembly elections in the state next year are "based on performance and not money".
"We always complain against corruption. But have we ever thought where it begins? It begins when a voter casts his or her valuable vote in exchange for money," the chief minister said.
Elections for the 60-member Arunachal Pradesh Assembly as well as the Lok Sabha will be held next year and Mr Khandu said he wants to start his campaign before that.
"Unfortunately, in our state, the candidate who pumps out the most cash wins the election. This must be stopped. Money culture is the reason for eligible, capable and honest people losing out on chances to represent their constituency and work for the development of the people," the chief minister said.
"Where is the time and zest for the representative, who spends crores of rupees on winning elections, to think of development? His five years will be spent on recovering the cash and earning more money to invest in his next election," he added.
According to the ADR data, YS Jagan Mohan Reddy of the YSR Congress Party is the country's richest chief minister with declared assets of Rs 510 crores. Mr Reddy is the chief minister of Andhra Pradesh.