Bagde, the MLA from Phulambhari in Aurangabad district, was escorted to the Speaker's chair by Chief Minister Devendra Fadnavis, NCP leader Ajit Pawar, Congress leader Radhakrishna Vikhe Patil, Shiv Sena leader Eknath Shinde and senior most legislator Ganpatrao Deshmukh of PWP.
Fadnavis thanked all the parties for facilitating unanimous election of the Speaker in keeping with the highest traditions of the Lower House.
He described Bagde as a grass root worker and agriculturalist who held several important posts in the BJP as well as the Sena-BJP government in 1995.
Sena leader Eknath Shinde said the party decided to withdraw its candidate after the Chief Minister spoke to party chief Uddhav Thackeray.
Earlier, Congress candidate Varsha Gaikwad also withdrew her nomination for the Speaker's post after former ally NCP declined to support her.