Palaniswami also announced setting up of a high level committee to go into the matter of missing fishermen and submit a report.
He also announced Rs five lakh solatium to those fishermen who were affected by the cyclone and unable to pursue their profession.
After chairing a meeting at the Secretariat here, the chief minister ordered an assistance of Rs 50,000 to the injured fishermen who are undergoing treatment in hospitals.
He also ordered a financial aid of Rs 5,000 to the families of missing fishermen and Rs 2,500 to fisherfolk of Kanyakumari district as they were unable to go for fishing in view of the cyclone.
The solatium of Rs 10 lakh to the kin of the dead includes an insurance component of Rs two lakh, the government said in an official release.
Relief work was on in Kanyakumari under the supervision of 11 senior IAS officials.
Five other officials are camping in Karnataka, Maharashtra, Gujarat, Kerala and the Lakshadweep Islands to safely bring home stranded Tamil Nadu fishermen alongwith their boats.
Village-wise enumeration of missing fishermen and those who have safely arrived besides damaged boats is on, an official release said.
The chief minister ordered setting up of a panel to submit a report on the missing fishermen.
The report will be based on the enumeration and the panel of officials will be headed by the Commissioner of Revenue Administration, the government said.
Based on the panel's report, appropriate relief will be given by construing missing fishermen as dead, the government announced.
After the review meeting in which state ministers also took part, the chief minister announced a hike in allowances for fishermen who were now sheltered in other states due to the cyclone.
Accordingly, food allowance will now be Rs 2000 for those in Gujarat, Maharashtra, Lakshadweep, Karnataka and Kerala.
Similarly, 1000 litres of fuel will be provided for those in Gujarat, Maharashtra and Lakshadweep and 750 litres for fishermen stranded in Karnataka and Kerala.
Appropriate relief will also be given to refurbish boats and fishing gear damaged in cyclone after due assessment.
The chief minister announced special education assistance for the children of fishermen who died in the cyclone. Such children will also be given priority for their skill development through educational institutions.
The government advised fishermen to register their boats without fail and said they should install communication gadgets in boats deployed for deep sea fishing.
Palaniswami also directed officials to continue search initiatives till all the fishermen were safely rescued.