The water level is rising in Idukki Cheruthoni Dam. Munnar and parts of Wayanad has become isolated due to the waterlogged roads.
Chief minister announced the decision after the weekly cabinet meeting on Tuesday.
Water will be released to Tamil Nadu if the water level reaches the maximum capacity of 142 ft.
EP Jayarajan will be in charge of industries, commerce, youth affairs and sports .
The accident took place near Kottiyam on monday when the KSRTC bus clashed with container lorry.
The minister will conduct an aerial survey of the affected areas including Idukki dam, Cheruthoni, Paravoor, Adimaly and Aluva.
Various parts of Wayand district are still under water. Banasura Sagar dam was opened without prior notice.
The government will give Rs. 4 lakh to those who lost homes and Rs. 6 lakhs to those who lost lands in the calamity.
The water level in the Cheruthoni reservoir slightly decreased to 2,400.88ft.
Auhtorities have taken precautionary measures at the various temples across the state.