The party with three members in the state assembly, two of whom are in the Manohar Parrikar Cabinet, also said it would adopt a wait-and-watch policy before deciding on the future course of action in the next six to eight months.
Talking to reporters after chairing the party's central committee meeting, MGP chief Dipak Dhavalikar said the party is mulling to contest the next Lok Sabha poll on its own.
He said his party has been keeping a close eye on the performance of the state government, which he alleged has "failed" in resolving the vexed issues of offshore casinos, drugs, unemployment and others.
He, however, refused to say if the party will withdraw its support to the BJP-led government.
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The party's central committee also decided to prepare for contesting the upcoming Lok Sabha polls on its own.
He said the MGP polled 13 per cent votes in the state assembly election held in February this year.
Dhavalikar said his party is not a part of the NDA, but the current support to the BJP-led government was only because none of the parties got majority in the assembly election.
The MGP is yet to receive any proposal from the BJP to join the National Democratic Alliance, he said.
"We don't have coalition with the BJP. The BJP sent us a proposal to support them to form the government which was accepted with the condition that Manohar Parrikar (who was the defence minister before the state polls) return to the state," he added.
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