Former Chief Minister Narayan Rane, who was elected unopposed to the Rajya Sabha from Maharashtra as a BJP candidate today, said he will decide on the future of his newly formed party within a week.

Rane formed Maharashtra Swabhiman Party (MSP) last year after quitting the Congress, and declared support to the BJP-led NDA.

"I am consulting my followers about the future of the party. I will take a decision within a week," Rane said, speaking to reporters here.

He thanked Prime Minister Narendra Modi, BJP president Amit Shah, Maharashtra Chief Minister Devendra Fadnavis and Union minister NItin Gadkari for his Rajya Sabha candidature.

"I am happy. Maharashtra is a part of India and I can always work for the state by being in Delhi. I am thankful to the BJP leadership for thinking that I can work for the state as a Rajya Sabha member," he said, when asked about the BJP's earlier reported assurance to make him a minister in the state.

When asked about the fiscal deficit of Rs 15,000 crore in the state Budget presented last week, Rane said," I have just got my Rajya Sabha certificate. Do you expect me to comment so soon on the party's government which sent me to the Upper House of Parliament? But I will say, a fiscal deficit of Rs 15,000 crore is not good.

"Government should pay attention to this and also ensure an increase in the plan outlay and implementation of the development schemes in the outlay," he said.

Ruling BJP's ally Shiv Sena had questioned Rane's candidature for the Rajya Sabha, asking how the chief of a political party could get ticket from another party.

When asked about this, Rane, a former Sena leader, said the objection was "meaningless".

To a question about the proposed Nanar refinery in Konkan, Rane said he was confident that the BJP will take a decision in the interest of the region's people.

The project is facing opposition from local people.

To a question about his son Nitesh Rane remaining a Congress MLA, he said, "This is a matter of convenience for both of us."