Economic crisis in Sri Lanka has deepened so much that the cost of rice is now Sri Lankan rupees 500/kg while price of milk powder jumped by Rs 250.
The economic crisis in Sri Lanka is deepening. Due to inflation, there has been a huge jump in the prices of food and drinks in the country. The gravity of the problem can be understood by the fact that people have to wait for hours in queue to buy food items.
Looking at the deepening financial and food crisis, many Sri Lankan Tamilians are now turning to India. About 16 Sri Lankans entered India on Tuesday as refugees. It is estimated that a large number of Sri Lankans are taking refuge in India.
Two teams of Sri Lankan refugees reached the Indian coast on Tuesday. Of these, a team of six people were rescued by the Indian Coast Guard off the coast of Rameswaram. They were stuck on an island away from Arichal Munai. These people travelled from North Jaffna or Mannar region of Sri Lanka.
Read | Two elderly people in Sri Lanka die after waiting 6 hours in queue for fuel
There were three children among the refugees who arrived on Tuesday. These people were stuck on an island near the banks of Rameshwar. The soldiers of the Indian Coast Guard rescued and brought them to India. The second team of 10 people reached the Indian coast late in the night.
Analysts have expressed concern that similar migrations are likely to happen as during the time of the 1989 civil war. The foreign exchange reserves with Sri Lanka have dried up. The country does not have money to bring essential goods from outside.
This year it has to repay a loan of USD 6 billion in installments but the foreign exchange reserves are barely around two billion. In such a situation, while China has raised its hands on one side, India has decided to give a credit facility of USD 1 billion on March 17.
400 gm milk powder cost Rs 790
Cost of rice there has reached 500 Sri Lankan rupees per kg.
400 grams of milk powder is available for Rs 790 in Sri Lanka.
Price of milk powder jumped by Rs 250 over the last three days.
The price of one kg of sugar in Sri Lanka has reached Rs 290.
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