he main purpose of this study was to examine why Sri Lanka fell down and how it will rise again economically more rapidly after the people’s revolution. The contemporary crisis in the country mainly lies in the mismanagement of the economy by the Sri Lankan government. The economic concerns generated by an intense balance of payment disaster remain the key consequence of the distressing conditions in the country. Furthermore, this research paper mainly utilised secondary sources to give appropriate inferences relevant to the core questions in the paper.