New Delhi: Prime Minister Narendra Modi met the President on Friday evening and tendered his resignation along with that of the Council of Ministers. President Ram Nath Kovind has accepted the resignation and has requested the PM and the Council of Ministers to continue till the new Government assumes office. Also Read - Govt Failed To Keep Law and Order in Control, Says Sharad Pawar After Tractor Rally Turns Violent

This followed the Union Cabinet passing the resolution to dissolve the 16th Lok Sabha.  (Catch Complete Coverage of Lok Sabha Elections 2019 Here) Also Read - 'I'm Sure Mamata Didi Has Faith In Lord Ram': Shiv Sena's Sanjay Raut On Netaji Event

The Cabinet meeting came a day after the counting of votes for the Lok Sabha elections which saw the NDA retaining power with a thumping majority. PM Modi is to meet President Ram Nath Kovind later in the day. Also Read - BJP Teased Me In Front of PM, Insulted Netaji, Bengal With Jai Shri Ram Chants: Mamata Banerjee

The 17th Lok Sabha has to be constituted before June 3 and the process to form a new House will be initiated when the three Election Commissioners meet the President to hand over the list of newly-elected members.

Now that the Cabinet meeting has been convened, sources told media that the Council of Ministers, which also comprises ministers of state, will meet at the South Block office of the Prime Minister.

The new Lok Sabha has BJP members on 303 seats. Add the tally of its allies and the NDA has captured 353 of the 542 seats this time. The UPA, meanwhile, has a measly 92 seats with the Congress bagging just 52 seats.