Mr Shahi, who hailed from Bihar, was a freedom fighter and a former CWC member. He was first elected to the Bihar Legislative Assembly in 1980 and became an MP from Muzaffarpur in Bihar in 1984.
Congress president Rahul Gandhi expressed grief over the death of Mr Shahi and conveyed his condolence to the bereaved family.
"The loss of Shri LP Shahi, freedom fighter, former Union Minister and CWC Member will be felt by all of us in the Congress Party. My thoughts and prayers are with his family in their time of grief. May his soul rest in peace," he tweeted.
"I'm sorry to hear about the passing away of Shri Shantaram Naik, former Goa Congress Chief, MP and senior Congress leader, who played an important role in the battle for Goa's statehood. My condolences to his family in their time of grief. May his soul rest in peace," he said on Twitter.