Finance Minister Arun Jaitley said the excise duty cut would have an impact of Rs 10,500 crore on central government's tax revenues.
Earlier, when reporters asked Nath about his party's strategy for the elections in the central Indian state, he had said the party had not started talks of alliance with anyone.
The Congress unit described Ramesh's suicide an outcome of "targeted harassment" of their rank and cadre to keep them away from the party.
The state government will soon appoint consultants to prepare the feasibility report for the project.
