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The World Bank forecasts that the Indian economy will expand by 7.5% in 2024

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In its latest update, the World Bank has raised its projection for India’s economic growth in 2024 to 7.5%, up by 1.2% from its previous estimate. The bulk of the region’s economy, India, is expected to see output growth of 7.5% in FY23/24, before settling at 6.6% over the medium term. The World Bank highlighted that services and industry sectors are likely to maintain robust activity levels. The Bank also mentioned that the recent growth in the Indian economy was supported by significant increases in investment and government spending.

Economy

Sri Lanka’s tourist arrivals exceed 840,000 so far this year

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The Sri Lanka Tourism Development Authority (SLTDA) stated that the number of tourist arrivals in Sri Lanka so far has crossed the 840,000 mark.

Accordingly, a total of 840,411 tourists have visited the country between January 1 and April 22, 2026.

The highest number of arrivals has been recorded from India, with 176,465 tourists, the SLTDA noted. 

A significant number of visitors have also arrived from countries including the United Kingdom, Russia, Germany, and China.

Meanwhile, the SLTDA stated that a total of 99,777 tourists arrived in the country between April 1 and April 22, 2026.

However, the data indicate that daily tourist arrivals in April have declined significantly compared to previous months.

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Economy

Haputale restaurant fined Rs. 1 million forover pricing bottled water

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A restaurant in Haputale has been fined Rs. 1 million for selling a bottle of drinking water above the maximum retail price.

The fine was imposed by the Bandarawela Magistrate’s Court on April 24 following a raid conducted by the Consumer Affairs Authority Badulla District Office.

The raid targeted a restaurant owned by a private company on Welimada Road in Haputale. Authorities found that the establishment had sold bottled water at a price exceeding the approved limit.

The court subsequently imposed a fine of Rs. 1,000,000 on the hotel. 

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Economy

Sri Lanka to Launch First Digital Motor Insurance Card from May 1

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Sri Lanka’s Ministry of Finance, Planning, and Economic Development has announced that the country’s first digital motor insurance card will be introduced from May 1.

The Ministry stated that this initiative represents a significant step toward advancing national digitalization while also enhancing public safety.

By replacing physical plastic cards, the move is also expected to contribute to environmental sustainability across the country.

The Ministry added that the digital motor insurance card will be officially launched in collaboration with the Insurance Regulatory Commission of Sri Lanka, the Insurance Association of Sri Lanka, and the Sri Lanka Police.

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