Making his farewell televised address to the nation, he said the judgement delivered by the people in the elections should be respected by all and wished the incoming government every success.
Looking back at his tenure, he said India saw many successes and achievements "that we should be proud of" and the country has become far stronger in last one decade. But it still has vast latent development potential.
"I address you today for the last time as Prime Minister of India. Ten years ago, when I was entrusted with this responsibility, I entered upon it with diligence as my tool, truth as my beacon and a prayer that I might always do the right thing," Singh said in his brief address.
"Today, as I prepare to lay down office, I am aware that well before the final judgment that we all await from the Almighty, there is judgment in the court of public opinion that all elected officials and governments are required to submit themselves to.
"Fellow citizens, each one of us should respect the judgement that you have delivered. The just concluded elections have deepened the foundations of our democratic polity," he said.