"The two years of BJP Modi government have been observed through very gaudy celebrations, making very bombastic claims.
"On the contrary, reality is that the livelihood condition of majority of Indians has deteriorated further...There is an economic disaster rather than any cause for celebrations," CPI(M) general secretary Sitaram Yechury said.
He made the remarks while addressing reporters after conclusion of the two-day Politburo meeting of the Left party.
The Marxist leader reiterated his party's allegations against the government of launching a three-pronged attack on people by pursuing aggressive communal agenda, practicing neo-liberal economic policies and undermining democratic institutions "running roughshod over democratic rights and civil liberties".
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He also claimed the two-year period saw the "worst decline in exports in 63 years" and prices of pulses soared by 30 per cent, affecting the common man.
He said the Jan Dhan Yojana too was as a "failure", given 27 per cent accounts have zero balance in them, while 33 per cent of them are "duplicate".
Yechury also expressed concern saying agrarian crisis deepened during the NDA rule until now with 2,997 farmers committing suicide last year, while 116 others in January-March 2016.
"In this situation, we are calling upon the Modi government to take steps on a war-footing to take relief measures. There is no point in waiting for the rains to come and say it will resolve the problem automatically," he said.
Among other issues, Yechury claimed the RSS-BJP combine is "again" resorting to whipping up "communal passions" ahead of the 2017 UP Assembly elections and termed the alleged efforts as "the worst vote-bank politics".
On the issue of recent attacks on African nationals in the country, Yechury said, it is a matter of "grave concern", and added, such "racist attacks" undermine centuries-old ties between New Delhi and other African nations.
"This has already assumed dimension of affecting diplomatic ties between India and African countries. The Central government must immediately intervene to ensure that stringent action is taken against the culprits and those propagating racist hatred," he said.