Since Vikrant is considered a strong claimant for the Thandla Assembly constituency that falls in tribal-dominated Jhabua district, the announcement has taken political pundits by surprise.
29-year-old Vikrant is a qualified doctor by profession, who was launched into politics by his father, early this year.
"In order to protect my father from the charges of nepotism or favouritism, I have decided not to seek the party ticket this time," Vikrant said.
Hinting at factionalism in Congress, Vikrant said, "some people are trying to create problems for my father by making my candidature an issue in the party, but they will not succeed in their designs."
Vikrant was considered a strong claimant for the Thandla Assembly constituency.
Vikrant had sought the party ticket from Thandla seat which is currently represented by Congress MLA Veer Singh Bhuria.
With Vikrant ruling himself out, the Congress is staring at a piquant situation wherein if the party wants to allot ticket to any other candidate, it has to deny it to the sitting legislator.
Meanwhile, BJP has termed the announcement made by Vikrant as his "acceptance of defeat".
"Vikrant has withdrawn from the race probably due to the fact that a BJP wave is prevailing in the state and after realising that he stands no chance to win in Thandla under any circumstances," said BJP's divisional media in-charge Alok Dube.
Madhya Pradesh is going to polls on November 25, 2013.
(With PTI inputs)