A team of divers, along with Dornier aircraft, have been sent to Rajahmundry to join rescue operations.
The NDRF and other rescue operation teams were successful in pulling the capsized boat out of the waters.
The boat was reportedly blown over by heavy gales at around 5pm local time (12.30pm BST).
A police official said on Tuesday that 10 persons were on board when it capsized.
Rampachodavaram ASP, Ajitha Vijendla, who is supervising the rescue operations along with District SP and Collector said, "Rescue operations are still on, though we can't give exact number of the people who are missing /drowned".
Naidu also asserted that the boat was inspected by officials before it took off. He said the government would provide jobs to one member each from the families of the victims and would also make arrangements for free education for their children. The actor turned politician has been touring in Settipally village and he responded on the boat tragedy that took place last evening in East Godavari.
Being the weekly shandy day, the boat was over crowded with the tribals buying their household needs at Devipatnam and returning to their habitations situated along the down stream of the river. According to an official from Rajamahendravaram, the boat mishap might have been caused by strong wind in the region. The death toll rose as passengers who were inside the boat could not come out. However, with all the doors and windows of boats closed, recovering the bodies trapped inside proved to be cumbersome exercise for the divers.
Chief Minister N Chandrababu Naidu and Deputy Chief Minister (Home) N China Rajappa on Tuesday spoke to East Godavari district officials over the phone and enquired about the incident.