What we can learn from Economic crisis in Srilanka

We all are aware of the Economic crisis in Srilanka. People aren’t getting the basic necessities. There is no electricity, so now people can’t charge their phones either. There’s no availability of medicines or any medical facilities in Srilanka, no fuel. The night remains so dark that people can’t move out. One of the main reasons behind the crisis was the difference between Import and Export Rate. They were importing and had taken loans but didn’t export. Due to the Covid outbreak, tourism was also affected. The condition is such that your money can’t buy you fuel, electricity and various other facilities. But we should learn from the condition of Srilanka because few states of India are also in debt as they had taken loans equivalent to Srilanka. Maharashtra, Uttar Pradesh, Tamil Nadu is one of them.

So, what we can learn from them –

 

Power should be vested in the hand if leader who can handle it

 

Many people don’t care about the representative party, they don’t give any emphasis to Politics. But the economic crisis in Srilanka let those think and elect the right representative.

 

Nation come first

 

Many among us don’t want to give tax. They restrain themselves from doing so. They want to keep as much money as they can. But the condition of Srilanka clearly depicts that no matter how much money you have, If your country isn’t financially stable, the money is of no use and you can’t buy anything even with the money.

 

The country should be able to export and not too much dependent

 

The economic crisis in Srilanka clearly depicts that they imported more products than they exported and are dependent on other countries taking loans from India, China, which created imbalance and led to Economic crisis.

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