Police said the man, a Muslim, had bought a sharp weapon and other materials for the midnight ritual yesterday, tonsured his daughter and made her fast for the sacrifice.
He had also made his wife keep a fast and himself did not eat anything throughout the day.
His wife, however, sensing danger alerted the people of the village, who beat him up and handed him to the police.
The man later confessed that he had planned to sacrifice his daughter as he had dreamt that if he did so he would become rich and live a happy life, the police said.
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