TMC ministers will submit their resignation to Prime Minister Manmohan Singh on Friday afternoon.
TMC Chief and west Bengal chief minister Mamata Banerjee today announced her harsh decision after long meeting with her party leaders in Kolkata.
She decided to take the step over the hike in diesel prices, restriction on subsidised gas cylinders and the Foreign Direct Investment or FDI in multi-brand retail announced last week.
She said her party, the second-largest member of the coalition, had been shown minimal respect by the government and had not been consulted on important decisions.
“We cannot accept the centre’s decision last week to raise diesel prices, cap subsidised gas cylinders for households and allow Foreign Direct Investment or FDI in multi-brand retail” Said Ms Banerjee.
Trinamool Congress, an ally of the UPA Government, gave 72 hours time to the Centre for roll back of diesel price hike, cutting subsidy on LPG cylinders and FDI in retail business. The deadline expired this evening.
TMC has 19 Lok Sabha MPs and five ministers at centre.
The Congress had another stern warning this evening from the Samajwadi Party, which does not participate in the UPA, but provides external support. “Don’t take us for granted,” said the party’s Ram Gopal Yadav. “We are not going to join the government…any party that does so will be wiped out in the 2014 general election.”
Without Ms Banerjee’s 19 Lok Sabha MPs, the Congress will be heavily dependent on regional parties like the Samajwadi Party, which has 22 Lok Sabha MPs, and Mayawati’s BSP, which has another 21.
The DMK -another member of the UPA -announced this evening that it will participate in a nationwide strike on Thursday against FDI in retail.