The mishap occurred in a field when one of the brothers G. Anil Kumar (8) tried to drink water from the pit and in the process fell into it, they said.
Police said the elder brother G. Bhanu (10) rushed to rescue his brother but both drowned.
"While Bhanu was a student of class IV, Anil of class III. Their bodies are fished out," Vatsavai police sub-inspector D. Uma Maheshwara Rao told PTI.
The deceased were sons of an agricultural labourer.
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