As you must be knowing about the ongoing economic crisis in Sri Lanka through newspapers, news etc., which is going through its worst phase of 75 years. But emergency has to be imposed, a large section present in Sri Lanka is also protesting against the government at the grassroots level, due to which many places have now seen sabotage etc. The whole countrymen have to face the situation today, regarding this, we will provide you all the information in detail through the following article.

Uncontrollable condition of Sri Lanka

The present situation in Sri Lanka has deteriorated so much that the countrymen there have to struggle a lot to get the things of daily routine, the inflation has reached such a point that rice has started selling 400 to 500 kg. In view of this, all the ministers of the government have given their resignations together, now the question arises that what is the reason that the economic situation has staggered so much inflation is at the peak, people have to take to the streets and demonstrate all these things. The following review will be done and the reasons will also be highlighted due to which there is so much fighting in Sri Lanka called gold Lanka today.

Current status of Sri Lanka

If we talk about the current situation, at this time in Sri Lanka, curfew has been imposed in the whole country by the Prime Minister Mahinda Rajapaksa and the army should keep the whole country in its grip, in such a situation, the countrymen are able to come out and buy everyday things. I have faced a lot of problems. Inflation has increased so much that people have also suffered from starvation. Rice, where 400 to ₹ 500 kg of the same milk is being sold for 200 to 250 rupees. At present, I am Sri Lanka for the first time in my 75 years. At times, facing such a terrible recession, economic crisis and historical inflation, the situation is finding it very difficult to control, the following are going to show the reasons due to which this situation has happened in Sri Lanka.

The reason for the destruction of Sri Lanka

If seen in the true sense, the reason for the ruin of Sri Lanka, the increasing debt text, the emphasis on organic farming is all this, which has been decided by the Prime Minister Mahindra President, in such a situation, pushing Sri Lanka towards ruin and It is very unfortunate that there is no alternative of any kind for him, the following are going on.

tax exemption

Based on the year 2019, the current Sri Lankan Prime Minister Mahinda Rajapaksa has significantly reduced the tax, which has been reduced from 15 percent weight to 8 percent, due to which Sri Lanka’s revenue has seen a huge drop of 60 thousand crores, due to which the global Sri Lanka has become very weak at the level and as you know the promotion of its exchequer in any country depends on the text set by it which is going to see a lot of loss due to lower tax in Sri Lanka. Used to be.

Emphasis on organic farming and ban on fertilizers

Based on the year 2019, the current Sri Lankan Prime Minister Mahinda Rajapaksa has significantly reduced the tax, which has been reduced from 15 percent weight to 8 percent, due to which Sri Lanka’s revenue has seen a huge drop of 60 thousand crores, due to which the global Sri Lanka has become very weak at the level and as you know the promotion of its exchequer in any country depends on the text set by it which is going to see a lot of loss due to lower tax in Sri Lanka. Used to be.

Total collapse of the tourism sector

As you know, for the last 2 years, the corona epidemic had completely imprisoned the whole world, whose flame was seen financially on almost all the countries, similarly in Sri Lanka too, the tourism department has got a complete sale, due to which There used to be an increase of 10% in the revenue, it would be negligible. Citizens of Asian countries as well as European countries used to travel as tourism in Sri Lanka, but this date has deteriorated so much that now all countries have to travel to their citizens. We are informing that you should travel to Sri Lanka negligibly, in such a situation, if there is less tourist song in Sri Lanka, then there will be a clear reduction in the revenue there.

Debt burden on Sri Lanka and China’s loophole policy

China’s biggest problem has been formed at the present time, which is that it has taken a loan of about 35 billion dollars from many countries of the world, in which China, India, Japan and as well as institutions like IMF, it has done it from China alone. He has taken a loan of 5 billion dollars, whose condition has worsened in the interest and loan repayments, in such a situation, he has to give his port Hambatota Port on a 99-year lease to China, this small engulfed in such a big economic crisis. It is a big deal for the country to repay such a huge debt, that too in a situation when the economic level has gone down.

Decline in foreign currency, decreasing currency value

If we talk about the year 2019, then three years ago, Sri Lanka had a foreign exchange of 7.5 billion-dollar, but after the formation of the government of Prime Minister Mahinda Rajapaksa, there was a sharp decline in the foreign exchange, which was only at 2.8 billion dollars. Sri Lanka has little forex reserves of foreign currencies to pay interest as it has reached $1.58 billion by November. In such a situation, Sri Lanka has reached the verge of bankruptcy and the economic changes and inflation taking place in the country has shaken it even more, which is being considered a matter of concern for the people of Sri Lanka at the present time.

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