At least 77 people, including women and children, were killed and scores were missing as the hanging bridge over the Machhu dam in Gujarat's Morbi district collapsed on Sunday evening, officials said.

Chief Minister Bhupendra Patel has announced Rs 4 lakh compensation to the kin of the deceased and Rs 50,000 financial help to those injured in the accident.

Prime Minister Narendra Modi, who took cognizance of the accident, announced a compensation of Rs 2 lakh to the next of the kin of the dead from the PM's Relief Fund, and Rs 50,000 for the injured.

Gujarat Chief Minister Bhupendra Patel has set up a five member Special Investigation Team (SIT) headed by an IAS officer, to inquire into the suspension bridge collapse in the Morbi town.

While NDRF has dispatched five teams for rescue operation, 50 personnel of Indian Navy, 30 personnel of IAF along with 2 columns of Army personnel, 7 teams of Fire Brigade, 3 of SDRF as well as two platoons of State Reserve Police (SRP) have been deployed for rescue and relief works.

According to sources, over 500 people fell into Machchhu river in Morbi after the overbridge collapsed. The bridge is a local picnic spot that sees huge crowds on weekends and other holidays.

Reports said the hanging bridge had reopened recently after repairs six months ago.