Talking to reporters on situation arising after withdrawal of support by DMK, Bardhan said Lok Sabha polls would be held on time.
Claiming that the next government at the Centre would be of non-Congress and non-BJP parties, the former CPI general secretary said for this regional parties have to come on one platform to give a third option to electorates.
On Rahul Gandhi, he said Congress fared badly in Assembly elections in Bihar and Uttar Pradesh which it fought under the leadership of the Congress vice-president.
On the talks of Gujarat Chief Minister Narendra Modi becoming BJP's prime ministerial candidate, he asked, "which problem prevailing in the country is not present in Gujarat?"
BJP performed badly in local bodies elections in Karnataka and it would further go down in Parliamentary elections, he said.
"In such a situation, Left parties have to take initiative for formation of Third Front with the help of regional parties," he said.