The prime minister also released the Chhattisgarh Innovation and Entrepreneurship Development Policy.
"The Pradhan Mantri Awas Yojana will benefit people who cannot afford a house themselves. This scheme will also generate a lot of economic activity," Modi said in a statement.
Describing the scheme as more than a mere construction of infrastructure, he said it was a way to help the poor realise their dreams.
He also urged public bodies in all states to take the lead to implement this scheme.
On the occasion, Modi congratulated the Chhattisgarh government for the innovation and entrepreneurship policy and said that countries which have laid stress on innovation have benefited and got economic prosperity.
Earlier, Modi unveiled a statue of Sathya Sai Baba, unveiled a plaque for the inauguration of Sri Sathya Sai Sowbhagyam -- Centre for Human Development, and dedicated to the service of humanity, the Sri Sathya Sai Sanjeevani Centre for Child Health Care. (IANS)