Rane's statement came against the backdrop of a renewed debate on the illicit drug trade in the coastal state, triggered by the death of two persons due to suspected overdose of a contraband on Sunday.
"The life sentence should be awarded to those who are found to be involved in smuggling of drugs in the state. The punishment for them should be stringent on par with countries like Singapore," Rane told reporters on the sidelines of an event.
"Last time also I had decided that I will not contest the Assembly election. I wanted to take it easy," he said.
Rane's son and state Health Minister Vishwajit Rane recently said his father would not contest polls in future.
"I have done enough of social work during my long tenure. I will be completing 50 years of my public life by the time the current term of the Assembly ends," Rane said.