Nine persons drowned while 11 others were rescued in the mishap that occurred mid-sea off Manapadu beach in Tuticorin yesterday, an official release said.
Those rescued were admitted to various private and government hospitals, it said.
Expressing condolences, Palaniswami said Rs 50,000 would be given to those injured from the Chief Minister's Relief Fund.
On taking up relief and rescue operations, the release said the chief minister has directed the Minister for Information and Publicity Kadambur S Raju to monitor the process.
Meanwhile, DMK Working President and Leader of Opposition in Tamil Nadu Assembly, MK Stalin, condoled the death of the boat accident victims, expressing 'shock' over the incident.
On his directions DMK MLA Anita R Radhakrishnan had consoled the survivors in person, he said.
"But any amount of consoling cannot calm the grieving relatives of the deceased. Recurrence of such accidents should be prevented," he said in a statement.
