A government without majority in the parliament - a nation without enough foreign exchange to even import fuel and citizens who are taking to the streets in large numbers against the Rajapaksas. The economic crisis in Sri Lanka is a testimony of how one political family which ruled Sri Lanka since 2005, except for a small period between 2015 and 2019 is now at the epicentre of public anger.

Sri Lankan President Gotabaya Rajapaksa's government has lost its majority in the parliament after over 40 members walked out of the alliance amidst a severe economic crisis in the island nation.

The opposition has already dismissed his proposal of forming a unity government as non-sensical. The newly appointed finance minister Ali Sabry has resigned within 24 hours after being sworn-in.

Hundreds of protesters gathered outside Sri Lankan Prime Minister Mahinda Rajapaksa's residence in Tangalle today demanding his resignation. The police had to use tear gas and water cannons to disperse the protesters. A Sinhalese majority area, Tangalle is considered to be a bastion of the Rajapaksas, who remain at the centre of the public outrage.

To discuss the Sri Lankan economic crisis and the road ahead, CNBC-TV18 spoke to Anil Trigunayat, Former Diplomat and Distinguished Fellow at VIF; Bhavani Fonseka, Human Rights Lawyer; Andrew Fidel Fernando, Author & Journalist and Paikiasothy Saravanamuttu from Centre for Policy Alternatives.

Watch video for more.