Several school students have been feared dead after a boat capsized at the Harni lake in Gujarat's Vadodara city, reports emerged on Thursday.

Reports said that the boat was carrying a total of 27 students who were on a picnic. So far, at least 16 students have been suspected to have lost their lives in the tragic incident.

The NDRF is currently conducting a search operation to trace the remaining students. 10 students have been rescued so far, reports added.

Following the incident, the Prime Minister's office (PMO) announced a financial aid of Rs 2 lakh each to the kin of the deceased and Rs 50,000 to those injured. The PMO further sated that the local administration is providing all possible assistance to those affected.

Taking to platform X, the PMO wrote, "Distressed by the loss of lives due to a boat capsizing at the Harni lake in Vadodara. My thoughts are with the bereaved families in this hour of grief. May the injured recover soon. The local administration is providing all possible assistance to those affected. An ex-gratia of Rs. 2 lakh from PMNRF would be given to the next of kin of each deceased. The injured would be given Rs. 50,000."