The Editorial Analysis- At a Crossroads

Bloated government, excessive security expenditure, the profligate ways of those in power, lack of attention to domestic production and centralisation of decision-making led to Sr Lankan Crisis.

Table of Contents

Political Unrest in Sri Lanka- Relevance for UPSC Exam

GS Paper 2: International Relations- India and its neighbourhood- relations.

Economic Crisis in Sri Lanka

The widespread public unrest in Sri Lanka has taken on the dimensions of a political revolution of great import.
Bloated government, excessive security expenditure, the profligate ways of those in power, lack of attention to domestic production and centralization of decision-making have all contributed to the mess.

Political Turmoil in Sri Lanka

Driven by Anger of All Communities: It is apparent that Sri Lankan Political Crisis is driven by popular anger and a collective will that straddles all ethnicities.
Turning into Autocratic regime: Sri Lankan Political establishment is turning into an apathetic political leadership that wields great power without much accountability.
- This made people to come together on the streets to demand change and relief.
Loss of Public and Political Support: As the protests escalate, the administration of the Sri Lankan government seems to have lost public support and the confidence of their political allies.
- The Opposition has rejected the President’s call for a multi-party Cabinet,
- Key allies such as the Sri Lanka Freedom Party have walked out of the ruling coalition, and
- Newly-appointed Finance Minister did not deem it prudent to take charge.

Sri Lanka Economic Emergency

संपादकीय विश्लेषण- एट ए क्रॉसरोड्स

Challenges of Sri Lanka

Economic Crisis: Sri Lanka is going through a serious economic crisis compounded by political turmoil, resulting in the complex situation for Sri Lanka.
Lack of Willingness of Opposition to form a government: it is unclear if anyone will be willing to take charge amidst a seemingly insurmountable economic crisis.
- As over 40 legislators have walked out of the ruling alliance, the present regime faces a loss of majority in Parliament.
- The real question is whether the Opposition will be willing to form an alternative dispensation.
Sri Lanka at the Crossroads: Sri Lanka is at a crossroads.
- Going one way may lead to a debt trap, sovereign default and possible bankruptcy.
- On the other hand, the present unrest provides an extraordinary opportunity to change its political and administrative paradigm.

Way forward for Sri Lanka

Prudent Recovery Plan: Sri Lanka needs an economic recovery plan to approach international lenders and bring about macro-economic stability.
Change in Political Establishment: Economic Recovery of Sri Lanka is viable only when the Present Government Regime is replaced by a concerned and accountable regime.
Funding the Sri Lankan Economy: Economists have suggested that Sri Lanka may need a bridge loan while an external debt restructuring plan is put in place.

Indian Power Projects to Replace Chinese Ventures in Sri Lanka

Conclusion

The people will have to realize that voting on emotional issues related to race and religion only helps the ruling class and seldom benefits them. Only such a momentous change on the political and social level will lead to their economic emancipation.

Indian Power Projects to Replace Chinese Ventures in Sri Lanka