The package includes provision of input subsidy for farmers who suffered crop loss of at least 33% or more and conversion of their short term loans to mid-term loans.
Special Relief Commissioner Pradeep Jena justified the need for special treatment to Odisha by the Centre as far as tropical cyclones are concerned.
The central team will be assessing the damages in Mayurbhanj district on Tuesday.
Placing nine demands before the state government, senior BJP leader Manmohan Samal said housing assistance and crop damage compensation should reach the affected people within two weeks.
Weather experts say, after the heavy rains triggered by very severe cyclonic storm Yaas, there is plenty of moisture available due to which the humidity content has increased in Odisha.
Pradhan said that what concerned him the most is that many villages of Bhadrak district, which took the brunt of cyclone Yaas, are still marooned by flood water and there is no electricity.
He appealed to people to guard against corruption and prevent mischief in assessment by some persons.
The Prime Minister was received by Governor Ganeshi Lal, Chief Minister Naveen Patnaik, Union Ministers Dharmendra Pradhan and Pratap Sarangi at Bhubaneswar airport.
The state administration has a tough task at hand because the COVID spread has not slowed down despite three weeks of lockdown.
Modi will chair review meeting likely to be attended by CM Naveen Patnaik and senior officials after his arrival at the Biju Patnaik International Airport.
As Odisha is gearing up to brave the impending cyclone, he urged people to be alert, stay safe and follow the standard operating procedures issued by the State government and Central agencies.
The broadcasters are advising people on dos and don'ts when the situation worsens and cyclone makes landfall besides, health advisories on COVID-19.
STR Deputy Director and Similipal North DFO Sai Kiran said that the large-scale uprooting of trees due to the storm can not be ruled out because of the hilly terrains.
To ensure social distancing among evacuees, the number of cyclone shelters has been doubled by using school and college buildings.
Sources said that persons suffering from fever and cold were made to undergo COVID tests and advised to stay in isolation in local school buildings for three days from May 25 to 27.