Under the recommendations of the White Paper on Education (1950), Government Girls’ College, Castle Street, Borella, was set up. This exclusive girls’ school was founded in January, 1953 with 53 students and 6 teachers, in a building constructed with pre-fabricated materials. It had classes from grade 9 to 12. The objective of the founders was to provide an education to enable its students to fulfil their potential and to meet responsibilities to the community in keeping with the school motto - " Those who are disciplined in mind are wise".

Later the name of the school was changed to ‘Devi Balika Vidyalaya’. Today it stands to be one of the leading Buddhist girls’ schools in Sri Lanka. Today girls are admitted at level of grade six, on the results of an island wide scholarship examination.