The target was fixed at a meeting here of the party's state executive, presided over by SP supremo Mulayam Singh Yadav and attended among others by Chief Minister Akhilesh Yadav, he said.
The party would concentrate on winning more than 60 seats to play a vital role in government formation, Shivpal told reporters.
A resolution adopted at the meeting flayed the UPA government at the Centre of pursuing what it alleged faulty policies.
The threat was also looming large on the border from China, the resolution said.
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It slammed the BJP alleging the party was adopting communal approach.
The resolution said the Lok Sabha elections could be held anytime.
Party workers were told to keep an eye on those who could vitiate communal atmosphere ahead of polls, Shivpal said.