The pro-talks faction of the United Liberation Front of Asom (ULFA) on Friday signed a peace accord with the central and Assam governments, agreeing to shun violence, disband the organisation and join the democratic process.

Union Home Minister Amit Shah, who was present along with Assam Chief Minister Himanta Biswa Sarma at the signing of the accord here, said it was a very big day for the people of Assam.

"Assam has suffered for long due to the violence of the ULFA and 10,000 people lost their lives in this violence since 1979," he said.

Shah said the ULFA, the oldest insurgent group of Assam, agreed to abjure violence, disband the organisation and join the democratic process.

He said a big development package will be given to Assam as part of the accord. Every clause of the pact will be implemented fully, he said.

He said that now violence has come down in Assam by 87 per cent, deaths by 90 per cent and kidnappings by 84 per cent.

The chief minister termed the accord "historic" and said it has fructified due to the guidance and leadership of Prime Minister Narendra Modi and Home Minister Shah.

The accord came after 12 years of unconditional negotiations between the ULFA faction, led by Arabinda Rajkhowa, and the government, officials said.

The peace pact is expected to end decades-old insurgency in Assam.

However, the hardline faction of ULFA, headed by Paresh Baruah, is not a part of the agreement. Baruah is believed to be residing at a place along the China-Myanmar border.

The ULFA was formed in 1979 with the demand for a "sovereign Assam". Since then, it has been involved in subversive activities that led to the central government declaring it a banned outfit in 1990.

The Rajkhowa faction joined peace talks with the government on September 3, 2011 after an agreement for Suspension of Operations (SoO) was signed between the ULFA, central and state governments.

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