Sharad Pawar announced about his decision while attending a book launch of his autobiography at the Yashwantrao Chavan Pratisthan in Mumbai

While making the announcement, Sharad Pawar said, 'After a long period of public life from May 1, 1960, to May 1, 2023, it is necessary to take a step back. Hence, I have decided to step down as President of the Nationalist Congress Party. However, I intend to do more in the fields of education, agriculture, cooperation, sports and culture, amongst others'

In his press statement, Pawar said, 'I have three years left of Rajya Sabha membership in Parliament, during which I will focus on issues related to Maharashtra and India, with a caveat of not taking any responsibility. After a long period of public life from May 1, 1960, to May 1, 2023, it is necessary to take a step back. Hence, I have decided to step down as President of the Nationalist Congress Party'

Sharad Pawar recommended that a committee of NCP members should be formed to decide on the election of new party chief. He also announced a panel of senior party leaders to draw future course of action. The panel members of the committee will be Pawar's daughter Supriya Sule, nephew Ajit Pawar, Praful Patel, Jayant Patil, Anil Deshmukh, Rajesh Tope, Chhagan Bhujbal, and others

Sharad Pawar, a four-time Maharashtra chief minister, has also served as Union Defence and Agriculture minister. He was also instrumental in bringing together the NCP, Congress and then ideologically opposite Shiv Sena to form the Maha Vikas Aghadi (MVA) government after the 2019 Maharashtra Assembly elections