Abstract: The objective of this study is to identify the socio-economic challenges, providing more weightage to human wellbeing, during this COVID-19 outbreak. The secondary data were predominantly used. The result revealed that the socio-economically most affected people are low-income earners, daily wages laborers, and business community; due to the curfew, locked down situation and import trade restrictions imposed by the Central Bank of Sri Lanka. The security forces, front-line health care workers, quarantined people and patients associated with long medical history are at higher risk. Their mental health and human wellbeing are beyond normal conditions, due to sleep-deprived workload, stress, frustration, depression, isolation and genuine psychological fear of being infected by this novel-virus.