This will be Narendra Modi Government's first Cabinet expansion after coming to power in May.
Parrikar, after resigning from Goa CM's post on Saturday is likely to file nomination for Rajya Sabha from Lucknow on Monday, reports say. Notably, UP Assembly will soon vote for 10 Rajya Sabha members.
In UP, a candidate needs at least 38 votes to get elected to the Upper House of the Parliament, but the Congress has only 28 members in the UP assembly. Since, BJP has 48 members in the 403-member assembly, Parrikar will easily get elected to the Upper House.
Earlier on Friday, speaking to reporters ahead of a crucial meeting of the Bharatiya Janata Party's legislative wing, Parrikar said: "The new chief minister will be sworn in on Saturday afternoon".
Parrikar also said that he would also submit his resignation after the meeting of the BJP's parliamentary board, which is expected put a final seal on his elevation to the union cabinet.
The contenders for the chief ministerial post are Speaker Rajendra Arlekar, Health Minister Laxmikant Parsenkar and Deputy Chief Minister Francis D'Souza.
Arlekar has solid Rashtriya Swayamsevak Sangh (RSS) credentials and also enjoys the confidence of Parrikar. Parrikar is tipped to be the Defence Minister One potential blip on his record, however, is a petition by a lawyer activist pending in a trial court accusing the speaker of allegedly amassing disproportionate assets.
Parsenkar has been a state chief of the BJP on two occasions and like Arlekar has traditionally enjoyed the confidence of the chief minister.