New Delhi | Jagran News Desk: Prime Minister Narendra Modi on Monday chaired a meeting of the Union Cabinet, two days after the government marked the first anniversary of its second term. This was the first meeting of the Cabinet after the central government entered into its second year of office.

Ahead of the Union Cabinet meeting, PM Modi said that the coronaviru pandemic is the biggest the crisis that the world is facing since World War 1 and World War 2, adding that India's medics are "invincible" and winning fight against the "invisible" dreadful infection.

Here are the LIVE updates from the Union Cabinet meeting:

16:38 pm: The farmers will get more time to repay their loans, till August now: Union Minister Narendra Tomar on Union Cabinet's decisions

16:27 pm: Cabinet today has approved Rs 20,000 crore subordinate debt for stressed MSMEs, this will benefit 2 lakh stressed MSMEs: Union Minister Prakash Javadekar

16:23 pm: Key steps taken by the government to boost MSMEs; Rs 20,000 crores infusion into the sector: Union Minister Prakash Javadekar

16:21 pm: Farmers will get more time to pay back small loans, says government

16:20 pm: Government announces Rs 10,000 loan for each street vendor

16:14 pm: Key steps to boost MSME and farm sector discussed in Cabinet meet, says Prakash Javadekar

16:07 pm: Union Ministers Prakash Javadekar, Nitin Gadkari and Narendra Tomar address the media in Delhi on Union Cabinet's decisions

13:57 pm: Meanwhile, a NDTV report suggests that an ordinance or executive order to enforce the "one nation, one market" policy to enable farmers to sell their produce to anyone, anywhere for a better price is likely to be announced.

13:06 pm: According to reports, the Prime Minister discussed about the economy of the country as India entered "unlock 1.0".

12:30 pm: 

12:26 pm: 'COVID-19 biggest crisis since WW1 and WW2; our corona warriors are invincible': PM Modi

12:19 pm: "During the meeting, historic decisions having a transformative impact are expected to be taken," News 18 quoted a source as saying.

12:02 pm: According to a News 18 report, several important decisions are expected to be announced. 

11:47 am: This meeting assumes significance as the Ministry of Home Affairs (MHA) has issued new guidelines for phased re-opening of "all activities outside containment zones for the next one month beginning June 1".

11:47 am: Meanwhile, the Cabinet Committee on Economic Affairs (CCEA) meeting will also be held today at the Prime Minister's residence at 7 Lok Kalyan Marg in New Delhi.

11:46 am: It will be the first meeting of the Cabinet after the Central government entered into its second year of office.

11:45 am: A meeting of the Union Cabinet, chaired by Prime Minister Narendra Modi, will begin shortly.

Posted By: Aalok Sensharma