The United Progressive Alliance's candidate Pranab Mukherjee is all set to win the Presidential Election for which the counting of votes began this morning. Mr Mukherjee bagged a vote value of 4 lakh 75 thousand when the reports last came in. His rival Mr PA Sangma managed to get a vote value of about 2 lakh.

Earlier, briefing the media after the counting of MPs' votes, the returning officer and Secretary General of Rajya Sabha V K Agnihotri said that Mr Mukherjee got the support of 527 of the 748 MPs. 206 MPs polled for his rival candidate and the Former Lok Sabha speaker P A Sangma. Fifteen votes were declared invalid.

The electoral college also consists of 4120 MLAs in the states. So far counting of votes of MLAs of Andhra Pradesh, Arunanchal Pradesh, Assam , Bihar, Chhattisgarh, Goa, Gujarat , Haryana, Himachal Pradesh, Jammu and Kashmir and Jharkhand was over when report last came in.

AIR correspondent reports that the results are likely to be declared this evening. The new President will be administered the oath of office by the Chief Justice of India on Wednesday at the historic Central Hall of Parliament.