"The hasty decision of Yeddyurappa to launch Karnataka Janata Party (KJP) will boomerang on him and erode his political clout in Karnataka. Regional parties have little prospect in the state and KJP has no future," he told reporters.
Mr Gowda said that Mr Yeddyurappa's 'frustration' of not remaining in power had forced him to quit BJP. "Had Yeddyurappa remained in BJP, he could have fulfilled his wish of getting a respectable post, which he was aspiring for," he said.
Mr Gowda also said that the BJP had made herculean efforts to retain Mr Yeddyurappa, but he insisted on quitting the party.
The party had insisted he come clean on the corruption charges levelled against him before giving him an important post, Mr Gowda said.
"Yeddyurappa's exit will be a setback to BJP, but only for a brief while," he said.