Talking to reporters here, he claimed that the NDA government has allocated money to a number of states to meet the exigencies but the Puducherry government's pleas have gone unheeded.
He said Puducherry was at the "crossroads with the Centre not extending a helping hand" and the union territory also "not able to mobilise funds from its own sources".
The closure of industrial undertakings, liquor shops, decline in power tariff and also the proceeds from the registration department during the ongoing lockdown had "worsened the financial position", Narayanasamy said.
He appealed to industrialists and the public to contribute to the Chief Minister's Relief Fund.
"So far Rs 5 crore has been mobilised for relief work in the context of COVID-19 here. This money is, however, not sufficient to meet the requirements of the hospitals, strengthen the infrastructure, posting of doctors and para-medical staff, supply personal protection equipment, purchase ventilators and provide other facilities to hospitals to treat patients.
Narayanasamy said Puducherry is in a "very critical condition and liberal contributions to the relief fund alone would be of help to tackle the COVID-19 situation here.
He said his government would try and come out with certain important decisions to help the machinery meet the current situation but did not elaborate on the measures it would implement.
Noting that a large number of people from neighbouring districts of Cuddalore and Villupuram in Tamil Nadu are entering Puducherry in droves every day for daily essentials forcing the territorial government to seal the union territory's borders.
"This measure is aimed at preventing the spread of the infection," he said.
Police have also asked those who had returned to Puducherry after attending the religious congregation in Nizamuddin area of Delhi last month to disclose the details of their visit so that they can be screened medically.
Those who returned to Puducherry from abroad in the past two months should also furnish details so that the safety of their near and dear ones and also the society could be ensured, a release from the police department said.
Meanwhile, Pondicherry University announced postponement of theory and practical examinations in its affiliated colleges because of the prevailing COVID-19 situation.
A release from the controller of examinations of the university said fresh dates of examinations would be announced shortly. COR ZMN