BJP has formally announced Gujarat Chief Minister Narendra Modi as the party's prime ministerial candidate for the Lok Sabha polls.

The decision was taken at the party Parliamentary Board meeting in New Delhi Friday evening.

Announcing it, party President Rajnath Singh said that the decision has been taken in view of mood of the people and sentiment of the party cadres.

He said that the leaders of all NDA allies have supported Modi's candidature.

On this occasion, Modi thanked all BJP workers and leaders for this opportunity and said that he will do his best to make the party victorious in 2014 polls.

He said that BJP will fight against corruption, price rise and work for good governance and development.

Modi met party senior leader L K Advani at his residence after the anointment.

Shiv Sena, a constituent of the NDA has welcomed BJP's announcement of Narendra Modi as its prime ministerial candidate, saying that the decision reflected the mood of the people.

In the past, Shiv Sena, BJP's oldest ideological ally, had hinted at its reservations about Modi on several occasions.

However, on Friday it welcomed BJP's decision in clear terms.

Earlier in the day, senior BJP leader, L.K. Advani stayed away from the BJP Parliamentary Board meeting.

He had reservations over the announcement of Modi as the party's Prime Ministerial candidate of the party before forthcoming Assembly elections in five states.

In a letter to Party President, Rajnath Singh, Advani said that he had conveyed his anguish and disappointment over the style of his functioning to him on Friday afternoon.

Meanwhile, Senior Congress leader and Union Minister Kapil Sibal has said the BJP has the right to declare its prime ministerial candidate well in advance.

Talking to AIR, Sibal said the party has nothing to say on the move and described the announcement as BJP's internal matter.