The meeting is likely to take place at 9:15 am on Friday, the sources said.
The Cabinet Committee on Security (CCS) is headed by the prime minister, defence minister, home minister, external affairs minister and the finance minister.
The CCS takes decisions on matters related to security and strategic affairs.
At least 39 CRPF personnel were killed when a Jaish-e-Mohammed terrorist rammed an explosives-laden vehicle into the bus they were travelling in, one of the worst terror strikes in Jammu and Kashmir in recent years.
The attack has been highly condemned by lawmakers in various parts of the world, including United States. It has also been highly condemned by UN Secretary General Antonio Guterres, calling for those behind the attack to be brought to justice.
"We strongly condemn today's attack in Jammu and Kashmir's Pulwama district and express our deepest condolences to the families of those who lost their lives and to the Government and people of India," Guterres's spokesperson Stephane Dujarric said at the daily press briefing on Thursday.
India slams Pakistan, asks to ban JeM
India on Thursday slammed Pakistan over the Pulwama terror attack carried out by Jaish-e-Mohammed and asked the neighbouring country to stop supporting terrorists and dismantle terror infrastructure operating from its soil.
India also strongly reiterated its appeal to all members of the international community to support the proposal to list terrorists, including JeM chief Masood Azhar, as a designated terrorist under the 1267 Sanctions Committee of the UN Security Council, and to ban terrorist organisations operating from territories controlled by Pakistan.