Prime Minister Narendra Modi on Friday approved a financial relief of Rs 2 lakh for the family of each deceased in the Amritsar train accident and Rs 50,000 for the injured, a spokesperson said.

More than 50 people were killed and 72 injured Friday evening after a crowd of Dussehra revellers, who had spilled onto railway tracks while watching burning of a Ravana effigy, was run over by a train in Amritsar.

The train was coming from Jalandhar. The incident happened at Joda Phatak where at least 300 people were watching 'Ravana dahan' at a ground near the railway tracks.

"Extremely saddened by the train accident in Amritsar. The tragedy is heart-wrenching," Modi tweeted earlier this evening.

"My deepest condolences to the families of those who lost their loved ones and I pray that the injured recover quickly. Have asked officials to provide immediate assistance that is required," he said.

Railways has issued helpline numbers 0183-2223171, 0183-2564485 for information on the incident.

Union Home Minister Rajnath Singh Friday announced all possible assistance by the Centre to Punjab as a large number of Dussehra revellers standing across railway tracks were mowed down by a passing train near Amritsar.

Punjab Chief Minister Amarinder Singh separately announced a compensation of Rs five lakh each to the kin of the deceased.