India June 01(IM): A "historic decision" is expected when Prime Minister Narendra Modi's full cabinet meets shortly, the first after the government marked the first anniversary of its second term.
The Cabinet Committee on Security and the Cabinet Committee on Economic Affairs are also expected to meet before the cabinet.
"Historic decisions having a transformative impact are expected to be announced in the cabinet," government sources said.
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 approved by the cabinet.
The top security panel is likely to discuss the standoff with China in Ladakh while the economic affairs committee is likely to discuss an economic revival plan after "Unlock1" today, which marks a significant easing of the nationwide lockdown with the reopening of various sectors including malls, restaurants and places of worship.
All activities banned earlier will open up in phases, the home ministry said in new guidelines on Saturday after the lockdown was extended till June 30. "The current phase of re-opening, Unlock 1, will have an economic focus," said the government.
GDP data last week showed the slowest pace of growth in 11 years and a big impact of the lockdown on the latest quarter. Some 12 crore people lost jobs in April, according to estimates by the Center for Monitoring Indian Economy.
Attempting to revive economic activity, the government has been easing out of lockdown curbs since April 20. Domestic flights and train services restarted last month.
Analysts predict a first full-year contraction of the economy in more than four decades even as the country battles a spurt in coronavirus cases. India galloped to the number 8 spot in the top 10 worst virus-hit countries in the world on the weekend.
In a letter to the nation to mark a year after his re-election, PM Modi said the nation took historic decisions and progressed rapidly in the last year.
He also predicted that India would set an example in economic revival and surprise the world like it did in its fight against the pandemic.