Hyderabad, Dec 7 (IANS) Eight days after quitting the Congress, late Andhra Pradesh chief minister Y.S. Rajasekhara Reddy's son Y.S. Jaganmohan Reddy Tuesday announced he will float a new party in 45 days.

Declaring that the new party would be formed to protect the self-respect of the people, the former MP said his goal was to bring the party to power in 2014.

Jagan, as he is popularly known, made the announcement while addressing his supporters at Pulivendula in his native Kadapa district.

Jagan, who also resigned as MP, said by-elections to Kadapa Lok Sabha seat would be the semi-final while the 2014 assembly elections would be the final.

"We have to work hard for these three years and then there will be good governance for 30 years," he said amid loud cheers by his followers.

Jagan reiterated that the Congress hatched a conspiracy to throw him out by dividing his family.

He claimed that the Congress was in power in New Delhi due to his father YSR, who died in a helicopter crash Sep 2 last year, a few months after he became chief minister for a second successive term.

Jagan and his mother Vijayalaxmi Nov 29 resigned from the Congress as well as parliament and state assembly respectively after accusing the party of trying to create rift in the family by offering his uncle Y.S. Vivekananda Reddy ministerial berth.

Vivekananda Reddy joined the state cabinet as a minister Dec 1.