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Gold and silver medallists will receive Rs 20 lakh and Rs 10 lakh respectively.
As India finished fourth on the podium with an overall medal tally of 61, Malayali athletes accounted for six of them.
Satheesan pointed out that five athletes from the state were among those who made the country proud by winning medals at Birmingham.
Australia blew away India with their whirlwind speed and relentless attacks, extending their dominance of the CWG stage.
The Olympic bronze medallists won 3-2 against South Africa in the semifinals on Saturday.
India won 4-1 in its final Pool B match in men's hockey on Thursday.
Chopra won the silver and ended India's 19-year-long wait for a medal at the World Championships.
India have been grouped in Pool B along with England, Canada, Wales and Ghana, and will begin their campaign on July 31 against Ghana.
In the second match of the two-leg tie, India lost 1-2 to the Dutch.
India lost 2-3 to Belgium in the second match of the two-leg tournament in Antwerp.