Chief Minister Pramod Sawant Friday dropped all three GFP ministers along with independent Rohan Khaunte from his cabinet after ten Congress MLAs joined the BJP.
Sardesai also announced that the Goa Forward Party was 'withdrawing' its support to the BJP-led government.
The election was necessitated after Speaker Pramod Sawant was appointed the Chief Minister following Parrikar's death.
Congress leader Atanasio Monserratte on Thursday won the Panaji bypoll, necessitated due to the death of sitting MLA Manohar Parrikar in March.
While the 'crown jewel', the Panaji Assembly seat, held by the BJP since 1994 and one which bears Parrikar's familiar footprint was lost, the effort by the CM seems to have paid off.
While there was speculation that Utpal would be given a ticket, the party chose Siddharth Kunkolienkar.
Sidharth Kuncalienkar's nomination was approved after much delay by the Bharatiya Janata Party's Central Election Committee.
Subhash Velingkar said that he would be focussing on providing basic amenities like drinking water, good roads, transport for Panaji.
After Parrikar died following a prolonged battle with pancreatic cancer, his son in a public message had said that he would like to further his father's legacy for nation-building.
Girish Chodankar said the MGP's move of joining hands with the Congress has improved his party's poll prospects in Goa.
In North Goa, the mining leases are spread over five Hindu-dominated assembly segments, whose economy has been paralysed due to mining inactivity.
Parrikar had read out the financial statement of the Budget in the Legislative Assembly in January with a tube inserted through his nose.
Utpal Parrikar is being rumoured to be the BJP's candidate from Panaji, where by-election is slated on May 19.
Speculation has been rife in the coastal state since then that Parrikar's sons -- Utpal and Abhijat -- might take the political plunge in the Lok Sabha polls or the Panaji bypoll.
Talking at length about Parrikar, Rajnath Singh said that the former Defence Minister lived a short yet dignified life.