"CPI(M), with the cooperation of 11 other parties, has already issued a joint declaration at Delhi for a strong alternative to BJP and Congress," he said.
Karat was addressing the concluding session of the party's Kerala Raksha March' led by state secretary Pinarayi Vijayan.
The CPI(M) leader alleged the UPA government has created 'a new record' in corruption, corporatisation and perpetrating anti-people policies. "UPA government has institutionalised corruption in the country," he said.
Attacking BJP, he alleged it was trying to project itself as an alternative to Congress but was also following right-wing economic policies favouring corporates. "Both BJP and Congress are two sides of the same coin."
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The CPI(M) leader termed Congress as a sinking ship and said both Congress and BJP should be defeated at the hustings.
Vijayan exuded confidence that Congress-led United Democratic Front in Kerala would be defeated in coming Lok Sabha polls.
Among those spoke were CPI(M) politbureau members Kodiyeri Balakrishnan and M A Baby.