Floods caused by cloud-bursts affected as many as 6,000 families in 228 villages in the district last month.
"Rs 50 crore will be immediately disbursed for rehabilitation," Chavan said, adding that Rs 10 crore will be provided for reconstruction of protection wall at Akola Bazar village.
By way of a permanent solution, the houses in the low-lying areas should be shifted, the Chief Minister said.
"People living near the rivers should be shifted to safer places, which would save them from floods," he told reporters after visiting villages Akola Bazar and Koli Bidruk near here.
Chavan also held a review meeting with the officials from concerned departments, including that of Relief and Rehabilitation.
The Chief Minister also directed the officials to continue water tanker service in the area till August 31.
