"Buddha's teachings cover all aspects of life and cares for the last individual in last social rung of the society", he said.
Conveying his greetings to the people on the auspicious occasion, the Governor said that the teachings of Lord Buddha are relevant in equal measures even today.
He said, India has never been an aggressor.
"They are for everyone", the prime minister added, according to ANI.
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Mr Modi said, NDA Government was working with compassion to serve people, in line with the path shown by Lord Buddha.
During the event government has allocated over Rs 360 crore for Buddhist Circuit.
Buddha Jayanthi 2018, the 2562 birth anniversary of Gautam Buddha, is being celebrated across the country on a grand scale with many special programs across the country.
In this context, he listed his government's flagship initiatives such as opening bank accounts for the underprivileged, enabling a low-priced premium insurance scheme, free gas connections to poor households and other measures for the welfare of the poor.
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The Prime Minister also exhorted the gathering to make a contribution towards the New India of 2022, when the country will celebrate 75 years of freedom.
The event will also be attended by Culture Minister Dr Mahesh Sharma, Minister of State for Home Affairs Kiren Rijiju and International Buddhist Confederation (IBC) Secretary-General Dr Dhammapiya.
The Buddhists on Sunday celebrated Buddha Purnima, the biggest religious festival of the community, amid festivity and religious fervour across the country. Many also believe that on this very day Buddha attained salvation or Nirvana under the Bodhi tree at Bodh Gaya.
Devotees have gathered in the birth place of Buddha, Lumbini, and other monasteries to offer prayers chanting hymns.
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The 2562nd Buddha Jayanti was celebrated on Monday by the Buddhist community of the state with processional display of Buddha statues and scriptures through the towns and offering of prayers.