New Delhi: Yoga guru Ramdev on Saturday said the UPA has lost its "moral authority" to continue in power after the Supreme Court cancelled 122 spectrum licences given to telecom operators and alleged that the Congress was after him since he started his campaign on black money issue.

Ramdev along with Janata Party President Subramanian Swamy launched the Action Committee Against Corruption in India that has members from all sections of the society. The ACACI would work on a legislation on the black money issue.

Addressing the inaugural function, the yoga guru targeted Congress and BSP on the issue of corruption and sought to know why the ruling party at the Centre is the first to come for its defence whenever he talks about corruption.

"The Supreme Court has cancelled 122 licences given by the Government. It has cancelled everything. But the Government says the Court has not said anything about it. This government does not have the moral authority to continue," he said.

"The people will not tolerate this government for long. They will speak," he said.

Ramdev also targeted BSP and Congress, saying "either hand (election symbol of Congress) eats money or elephant (election symbol of BSP) eats money."

He claimed that he was not targeting any particular party and he does not understand why Congress jumps to its defence when he talks about corruption.

"They themselves come for defence. We never targeted any party. We never gave any clean chit. They themselves think we talk about them," he said.

He also alleged that there was influence of CIA, KGB, ISI and Mosad on the government.

Ramdev also took a dig at the government's Lokpal Bill, saying it is not "aimed at eradicating corruption but aimed at furthering corruption in the country."