PM Narendra Modi had submitted his resignation to the president last night (File).

Highlights PM Modi-led council of ministers submitted their resignation last night

President Ram Nath Kovind dissolved the 16th Lok Sabha this morning

PM Modi is expected to take oath for his second term next week

Prime Minister Narendra Modi is likely to meet President Ram Nath Kovind this evening around 8 pm and stake claim to form government, following a meeting of the victorious BJP-led National Democratic Alliance (NDA) in the central hall of the parliament. A slew of political leaders have arrived to attend the meeting of the coalition.

The new lawmakers will formally elect PM Modi as their leader at the NDA parliamentary board meeting.

Yesterday, the council of ministers led by PM Modi submitted their resignation which was accepted by President Kovind, paving way for formation of new government.

Accepting PM Modi's resignation, the president had had asked them to continue as a caretaker until the formation of a new government.

PM Modi is expected to take oath for his second term next week.

In the just-concluded parliamentary polls, the BJP scored a resounding victory, taking home 303 out of 542 seats. The Congress, led by Rahul Gandhi, faced an epic failure with just 52.

This morning, President Kovind dissolved the 16th Lok Sabha with immediate effect on recommendation of the union cabinet, the Rashtrapati Bhavan said in a statement.

"The President has accepted the advice of the Cabinet on 24.05.2019 and signed the Order dissolving the 16th Lok Sabha," it said.

The Election Commission also submitted a list of newly-elected parliamentarians to President Kovind, an official statement said, setting in motion the process for constituting the 17th Lok Sabha.

Chief Election Commissioner Sunil Arora and Election Commissioners Ashok Lavasa and Sushil Chandra called on the President and submitted a copy of the notification a Rashtrapati Bhavan statement said.

(With inputs from PTI)