"We see a strange teaming up of the Rashtriya Swayamsevak Sangh - the most regressive organisation that does not believe in the country's constitution - and the modern corporate houses. They are saying Narendra Modi is our candidate for the prime minister's post," said Bhattacharjee, the former chief minister of West Bengal.
Addressing a gathering of intellectuals, he said a blitz campaign was on that Modi would come to power.
"They are creating an atmosphere to make the people believe 'Modi is coming, Modi is coming'," said the Communist Party of India-Marxist politburo member.
Bhattacharjee said enormous amount of money was being spent in the campaign to keep Modi in national focus.
"The RSS and the corporate houses are saying Modi does not mean riots, but he stands for development," he said alluding to the Gujarat riots of 2002 during Modi's chief ministerial tenure.
"We don't think meaningful development is possible if the corporate houses take the initiative," he said.
Attacking the Congress for pursuing neo-liberal economic policies, he said the gulf between the rich and the poor has increased during the ten years of the United Progressive Alliance government.
"We did not want this India. Some Indians have set up and empire of Rs.25,000 crore of ill-gotten wealth abroad. The government has not been able to recover the money. We want to save the people from the Congress. It has to go. There is no reason to feel sorry for the Congress," he said.
However, he said it would be like falling from the "frying pan to the fire" if the BJP replaced the Congress.