Congress President Sonia Gandhi presided over the function at the AICC headquarters in the national capital where she unfurled the party flag. However, Vice President Rahul Gandhi was not present at the function.
Asked about government formation in Jammu and Kashmir where the party bagged 12 seats, Sonia told reporters, "We have not got a mandate. Others will have to form the government."
Sonia just smiled and walked away when asked whether Congress will be supporting PDP, which emerged as the single largest party in the Assembly elections with 28 seats.
Senior Congress leader Ghulam Nabi Azad downplayed the electoral loss, saying "victory or loss in one election is nothing if it is compared to what Congress leaders have done in past for the country. We have seen many ups and downs".
The event was attended by senior Congress leaders including former Prime Minister Manmohan Singh, AK Antony, Ambika Soni, Motilal Vora and Azad.
The Indian National Congress was founded on this day in 1885. The first session of the party was held at Mumbai between December 28 and December 31, and was attended by 72 members.
Last year, the Congress's Foundation Day celebration coincided with the swearing-in ceremony of then Delhi Chief Minister Arvind Kejriwal. Congress had lost in Delhi after 15 years.
The Lok Sabha polls this year saw the Congress' tally plummeting from 206 in 2009 to a mere 44. It also fared poorly in assembly elections in Maharashtra, Haryana, Jammu and Kashmir and Jharkhand, where it was in power.
Serious deliberations have started in Congress about its ideological pull, connect with masses and form of organisation as the party enters its 131st year.

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