The meeting, scheduled to be held at SP supremo Mulayam Singh's residence, will include discussions on the name, structure and stance of the new party, Yadav said on the sidelines of a function here last night.
"We are trying to bring together people with similar ideologies in the proposed front. This third front will emerge as the voice of the middle-class," he said.
On whether Rashtriya Janata Dal (RJD) will join the new front, Yadav said it has to be decided by party chief Ajit Singh.
The party may be named Samajwadi Janata Dal, he said, adding a consensus may be reached to appoint Mulayam Singh Yadav as the front president.
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Launching an attack on the ruling BJP, Sharad Yadav alleged the party is trying to divide the country on communal grounds.
They are not concerned about unemployed youth and farmer suicides, he said.