JOIN USEnding all speculations, the son of late chief minister Y.S. Rajasekhara Reddy made the announcement at a public meeting at Jaggampet in East Godavari district.
However, he will formally launch the party Saturday at the grave of his father at Idupulapaya in Kadapa district.
Rajasekhara Reddy, who was popularly known as YSR, died in a helicopter crash Sep 2, 2009."I and my mother (Vijayalakshmi) will be launching the party at the feet of my departed father tomorrow (Saturday) at 2.29 p.m.," said Jagan, as the young leader is known among his followers.
Banking heavily on the legacy of his father, Jagan decided to use both his name and photo for the party.
The party flag will have three colours with a turbaned YSR in the centre.
The businessman-politician is avoiding a grand launch of the party in view of the election code of conduct in force.
Amid thunderous applause by the huge crowd, the former Kadapa MP said his party would follow the ideals of YSR.
"The YSR Congress Party will wipe out every tear of the poor," Jagan said.
The 38-year-old leader said the party would announce its policies following a two-day brain storming session at Idupulapaya after by-elections to Kadapa Lok Sabha and Pulivendula assembly seats.
Jagan had earlier said that the new party would work to protect the self-respect of the people and that his goal is to bring the party to power in the 2014 elections.Jagan and his mother Nov 29 resigned from the Congress party, parliament and the state assembly, respectively, alleging that the leadership was trying to create a rift in the family by offering ministerial berth to his uncle Y.S. Vivekananda Reddy.
Vivekananda Reddy joined the state cabinet Dec 1.
The Congress leadership sidelined Jagan after the death of his father by naming K. Rosaiah as the chief minister.
He resigned from the party after the leadership ignored him again by picking up his rival Kiran Kumar Reddy as Rosaiah's successor.