Indian Prime Minister Manmohan Singh (R) stands next to a member of presidential staff during the ceremonial reception of Maldives President Abdulla Yameen at the forecourt of India's presidential palace Rashtrapati Bhavan in New Delhi Jan 2, 2014. Yameen is on a four-day state visit to India. [Photo/Agencies]

NEW DELHI - Indian Prime Minister Manmohan Singh Friday ruled out a third term in office, saying he will hand over the baton to a new prime minister after the upcoming general election in May.

He told a press conference that he hopes the next prime minister will also come from the incumbent Congress-led United Progressive Alliance (UPA) instead of the opposition Bharatiya Janata Party (BJP).

The BJP prime ministerial candidate Narendra Modi is campaigning strongly for the election.

Singh also said that the Congress will soon nominate a PM candidate.

The Congress lost in four key local legislative elections, including that of the capital region, late last year. BJP won all the elections.