Guwahati, July 10: Former BJP leader Pradyut Bora today formally launched his new political party, Liberal Democratic Party, here with the aim of fighting the "Congress's corruption and BJP's deception".

Bora, an alumnus of IIM Ahmedabad, was the BJP's national executive member and former head of the party's IT cell. He quit the party on February 18 attributing his resignation, among others, to the party's style of functioning and "political corruption" in its Assam unit.

Addressing reporters, Bora said the LDP would grow to be an alternative to both the Congress and the BJP. Criticising the Congress for its "corruption" and then the BJP for its "numerous deceptions", Bora said the people of Assam are on the lookout for an alternative.

Bora charged the Congress with bringing down the per capita income of people of Assam from what it was - 5 per cent more than national average in 1947 - to 40 per cent less than national average now, failure to set up industry and maintaining law and order. Similarly, he said the BJP before the last Lok Sabha elections promised to drive out all Bangladeshis but became silent after the election and instead dropped the special category status from the Northeast states and Northeast industrial policy.

The party announced two organisational wings: Mohila Morcha headed by Snigdha Sangma and a Yuva Morcha headed by Aslam Khan.

Bora said their party would be a party with principles. "We are not in a hurry to deliver any result. But we are steadfast in our commitment to principled politics. What Assam needs is another Assam Movement, but this time the movement has to focus on economics. What Assam needs is an economic revolution," he said.

Bora said he was not in a position to say how many of the 126 Assembly seats in the state the party will contest. "We have just launched the party. We cannot say how many seats we will contest in the Assembly election. But during the past three months we have started organisational activities in Guwahati and south Kamrup district," he said.