New Delhi, May 23 (IANS): Noting the "severe setback in these elections", the Communist Party of India-Marxist (CPI-M) has decided to introspect and draw lessons from it.

"The Indian electorate has given a decisive verdict in favour of the BJP and its allies. The CPI-M has suffered a severe setback in these elections. We shall introspect the reasons for this and draw proper lessons for the future," the CPI-M said in a statement.

The party said big challenges were ahead "regarding the defence of our secular democratic republic, the institutions of constitutional authority, people's rights and livelihood issues." The party has urged people to safeguard harmony and to unitedly come forward to meet these challenges.

It also thanked the people who voted for the party. "The CPI-M thanks all those people who have voted for its candidates. The politburo salutes all those who worked in carrying forward the CPI-M's message in these elections to the people," the statement added.