Modi also spoke on measures being taken to eradicate unemployment across the country.
The meeting started at 10.30 a.m. and is expected to continue till late in the evening. All ministers and their secretaries presented detailed reports about the policy decisions taken in the last six months for the public welfare and how these decisions are being implemented on the ground.
During the meeting, Modi also told respective ministers to highlight the hurdles they are facing in implementing government's ambitious projects such as Make in India project, Smart City Mission, Clean Ganga, Pradhan Mantri Kisan Samman Nidhi, doubling the farmers' income, tap water for every house, and housing schemes.
"Special emphasis in being laid on knowing the progress of ambitious schemes being implemented keeping in mind Mission 2022," said a senior government functionary who is the part of the meeting.
Sources said the Prime Minister is reviewing the progress of work done by each ministry in the last six months. He had said that work on schemes aimed at 2020 were to be fast-tracked. The ministries have been represented in groups of eight to 10 as they present their case.
The meeting will also have a deliberation about the week-long stir over the Citizenship Amendment Act.
Senior Bharatiya Janata Party and Rashtriya Swayamsevak Sangh functionaries are also expected to take part in the meeting.
It is believed that the purpose of the meeting is not only to assess the work of the ministers but also decide on further expansion and reshuffle of the Council of Ministers.
The meeting is taking place a day ahead of a huge public gathering in Delhi to be addressed by Modi over regularization of illegal colonies.
There are currently 57 ministers in the Modi government. The rule is that the total number of Ministers, including the Prime Minister, in the Council of Ministers will not exceed 15 per cent of the number of members of the House of the People.
The previous government had 70 ministers.
NDA allies want expansion of the Council of Ministers as the JD-U in Bihar, Apna Dal from Uttar Pradesh and Anna DMK from Tamil Nadu would like to get a place in the cabinet.
A similar meeting was held on June 13 when Modi took over for the second term.
( With inputs from IANS )