Home Minister Rajnath Singh, Finance Minister Arun Jaitley and External Affairs Minister Sushma Swaraj, besides Shah met Modi at his residence to take stock of the current political situation.
Party sources insisted that the meeting had no "direct correlation" with the JNU row and covered a wide spectrum of issues. They said a host of issues, including the upcoming state assembly elections and the Budget Session of Parliament were discussed.
"The meeting of senior party leaders happens at regular intervals and is routine. The Budget Session is coming and so are assembly elections in five states. There are organisational issues of the party as well," a senior party leader said when asked about the deliberations.
BJP has defended the police action against the students allegedly involved in shouting anti-India slogans and accused the opposition parties of speaking in the voice of terror group LeT founder Hafiz Sayeed.
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Sources said Modi also held pre-budget consultations with his key ministers including Jaitley, Singh, Swaraj and Transport Minister Nitin Gadkari.
It will be the second full-fledged budget of the Modi government after it came to power in 2014.