This was decided at the two-day meeting of the party's Central Committee, which ended here today.
Party sources said that Central Committee has authorised the Polit Bureau to formulate its strategy.
The CPI(M) and other Left parties have so far refused to spell out their preference and have been asking the UPA government to come up with a candidate having "widest possible acceptance" for the Presidential elections.
While Finance Minister Pranab Mukherjee appears to have become the front runner for the presidential candidate, the sources said some sections in the party have reservation about supporting a Congress candidate for the post of President.
Left party leaders maintain that there should be a candidate for the Presidential election based on the "widest possible acceptance".
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