Outgoing Prime Minister Manmohan Singh on Saturday said serving India has been his privilege and he has always tried to do the "right thing" as he addressed the nation on his last day in office.
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He will later meet President Pranab Mukherjee to hand in his resignation.
"As I have said on many occasions, my life and tenure in public office are an open book. I have always tried to do my best in serving this great nation of ours."
Singh thanked the people saying as an underprivileged child of India's partition, he owes his success to the country which gave him a chance to reach the highest office.
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Bharatiya Janata Party's prime ministerial candidate Narendra Modi wrested the top job in the country on Friday as a saffron wave swept most of India, lifting the BJP to its highest-ever tally and leaving the Congress in tatters.
"Each one of us should respect the judgement that you have delivered. The just concluded elections have deepened the foundations of our democratic polity."
"I wish the incoming government every success as it embarks on its task and pray for even greater successes for our nation," he said.
Singh, the 13th prime minister of India, has helmed the United Progressive Alliance government through its two successive terms from 2004.
On Friday, Singh congratulated Modi for leading his party to victory in the Lok Sabha election.
"Prime Minister Manmohan Singh calls Narendra Modi and congratulated him on his party's victory in the Lok Sabha elections," according to a message on the Twitter handle of the Prime Minister's Office.
Singh had in January said that Modi becoming prime minister would be a "disaster" for the country.
On Saturday, the Election Commission will formally announce the results to the President.
After his address to the nation on Doordarshan, the Prime Minister will meet his cabinet for the last time when he will thank his ministerial colleagues.
He is then to drive straight down to Rashtrapati Bhavan to hand in his resignation.